The Times Australia
Mirvac Harbourside
Small Business News

.

New business start-up - Do I need an LEI code?

  • Written by NewsServices.com


Start-up businesses in Denmark face a number of important decisions and tasks when starting up. After registering with the Danish Business Authority and setting up the company's bank account, it can be difficult to know what other steps need to be taken to ensure that the company operates within the law. One of the things that some business owners consider is whether they need an LEI code. But what is an LEI and does your start-up need one? Read on to find out.

What is an LEI code?

LEI stands for Legal Entity Identifier and it is a unique identification code assigned to any legal entity, including companies, foundations and other organizations. The code consists of 20 characters and is used to identify the entity when trading on financial markets. 

Buy your LEI code here.

What is the purpose of an LEI code?

The purpose of an LEI is to increase transparency in financial markets and strengthen the authorities' ability to monitor and regulate the market. Having an LEI is mandatory for some companies, while for others it is optional. It depends on what the company does and its size. If your company deals in financial instruments or is part of a larger group, it may be required to have an LEI. It is best to check with your bank or the Danish FSA.

Who needs an LEI code?

All legal entities dealing with financial transactions, shares, bonds and other securities must have a valid LEI code. This includes, for example:

  • Companies
  • Organizations
  • Associations
  • Funds
  • BanksInsurance companies

If your company does not fall into these categories, it may still be a good idea to get an LEI code. It can give your business greater visibility and credibility on financial markets, and it can also show potential investors and customers that your business operates within the legal framework.

How do I get an LEI?

If your business needs an LEI, it can be created with an approved LEI registrar. It is important to choose a reliable and reputable registrar to ensure that your LEI is valid and meets all the requirements. 

Once you have chosen a registrar, you will need to fill in an application form and provide information about your company, including its legal name, address and business registration number. The process can take up to a few days, depending on the registrar.

Your company will then receive its unique LEI code, which must be used in all financial transactions and reporting. It is important to remember to renew your LEI code annually to ensure it remains valid.

Property Times

Rubber vs Concrete Wheel Stops: Which is Better for Your Car Park?

When it comes to setting up a car park in Perth, wheel stops are a small feature that make a big difference. From improving driver accuracy to preventing costly damage, the right choice between rubber and concrete wheel stops could save you time, mon...

What Is the Australian Government First Home Buyers Scheme About?

For many Australians, buying a first home can feel like a daunting task—especially with rising property prices, tight lending rules, and the challenge of saving for a deposit. To ease this burden, the Australian Government has introduced a First ...

Flipping vs. Holding: Which Investment Strategy Is Right for You?

Are you wondering whether flipping a property or holding onto it is the better investment strategy? The answer isn’t one-size-fits-all. Both strategies have distinct advantages and risks, and choosing the right one depends on your financial goals, ...

A Guide to Smarter Real Estate Accounting: What You Might Be Overlooking

Real estate accounting can be a complex terrain, even for experienced investors and property managers. From tracking rental income to managing property expenses, the financial intricacies of real estate demand more than just basic bookkeeping. A si...

Food & Dining

Italian Lamb Ragu Recipe: The Best Ragù di Agnello for Pasta

Ciao! It’s Friday night, and the weekend is calling for a little Italian magic. What’s better than twirling up a rich, hearty pasta with a glass of bold red wine in hand? The real secret to Italian pasta isn’t just the noodles; it’s those incredible ...

Not all processed foods are bad for you. Here’s what you can tell from reading the label

If you follow wellness content on social media or in the news, you’ve probably heard that processed food is not just unhealthy, but can cause serious harm. Eating a diet dominated by highly processed foods means you’re likely to consume more kil...

Italian Street Kitchen: A Nation’s Favourite with Expansion News on Horizon

Successful chef brothers, Enrico and Giulio Marchese, weigh in on their day-to-day at Australian foodie favourite, Italian Street Kitchen - with plans for ‘ambitious expansion’ to be announced in the coming months.  Italian Street Kitchen: A slice o...

Après Skrew: Peanut Butter Whiskey Turns Australia’s Winter Parties Upside Down

This August, winter in Australia is about to get a lot nuttier. Skrewball Whiskey, the cult U.S. peanut butter whiskey that’s taken the world by storm, is bringing its bold brand of chaos to Aussie shores with Après Skrew: a mash-up of alpine energy...

Mirvac Harbourside

Business Times

Your CEO Has More Reach Than Your Ad Budget – You’re Just Not Usi…

By Patrice Pandeleos, Managing Director of Seven Communications If your CEO hides behind a logo while competitors build infl...

From Farms to Festivals: How Regional NSW Is Repurposing Shipping…

When you travel through regional NSW, you start to notice how resourceful communities can be. Open paddocks, winding countr...

Nail it with points: Flybuys members can redeem points for instan…

Flybuys launches new in-store redemption at Bunnings stores across Australia Tuesday 19 August, 2025 – Flybuys, Australia’s ...

The Times Features

Do kids really need vitamin supplements?

Walk down the health aisle of any supermarket and you’ll see shelves lined with brightly packa...

Why is it so shameful to have missing or damaged teeth?

When your teeth and gums are in good condition, you might not even notice their impact on your...

Australian travellers at risk of ATM fee rip-offs according to new data from Wise

Wise, the global technology company building the smartest way to spend and manage money internat...

Does ‘fasted’ cardio help you lose weight? Here’s the science

Every few years, the concept of fasted exercise training pops up all over social media. Faste...

How Music and Culture Are Shaping Family Road Trips in Australia

School holiday season is here, and Aussies aren’t just hitting the road - they’re following the musi...

The Role of Spinal Physiotherapy in Recovery and Long-Term Wellbeing

Back pain and spinal conditions are among the most common reasons people seek medical support, oft...

Italian Lamb Ragu Recipe: The Best Ragù di Agnello for Pasta

Ciao! It’s Friday night, and the weekend is calling for a little Italian magic. What’s better than t...

It’s OK to use paracetamol in pregnancy. Here’s what the science says about the link with autism

United States President Donald Trump has urged pregnant women[1] to avoid paracetamol except in ...

How much money do you need to be happy? Here’s what the research says

Over the next decade, Elon Musk could become the world’s first trillionaire[1]. The Tesla board ...