The Times Australia
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

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...

Duke of Dural to Get Rooftop Bar as New Owners Invest in Venue Upgrade

The Duke of Dural, in Sydney’s north-west, is set for a major uplift under new ownership, following its acquisition by hospitality group Good Beer Company this week. Led by respected private hotelier John Azar, the Good Beer Company has a proven t...

Food & Dining

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...

450 people queue for first taste of Pappa Flock’s crispy chicken as first restaurant opens in Queensland

Queenslanders turned out in flocks for the opening of Pappa Flock's first Queensland restaurant, with 450 people lining up to get their hands on the TikTok famous crispy crunchy chicken tenders. The highly anticipated opening comes after months of d...

West HQ is bringing in a season of culinary celebration this July

Western Sydney’s leading entertainment and lifestyle precinct is bringing the fire this July and not just in the kitchen. From $29 lobster feasts and award-winning Asian banquets to Sydney’s first-ever Acquapole fitness classes and family fun gal...

Business Times

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

Regional NSW communities are repurposing containers for farms, tourism, and events Farmers and small businesses use them...

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 ...

Understanding Energy Use Patterns by Season

Australia’s climate changes noticeably across the year. These seasonal changes don’t just affect what we wear or how we trave...

The Times Features

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

Regional NSW communities are repurposing containers for farms, tourism, and events Farmers and small businesses use them as cost-effective, flexible infrastructure Festivals ...

What a Mobile Speech Pathologist Really Does for Late Talkers

As a parent, it’s natural to keep a close eye on your child’s development. When your toddler isn’t using as many words as their peers, the internet can feel like a rabbit hole ...

Benefits of Tree Pruning for a Thriving Australian Garden

Tree pruning is an essential aspect of garden maintenance that often doesn't get the attention it deserves. It's a practice that involves the selective removal of certain parts...

What is psychosocial therapy? And why is the government thinking about adding it to Medicare for kids?

The government is considering new, bulk-billed health checks for three-year-olds, to pick up developmental concerns and refer kids that might need additional support. The de...

Detect Hidden Water Leaks Fast: Don’t Ignore Hot Water System Leaks

Detecting water leaks early is crucial for preventing extensive damage to your home. Among the various parts of a home’s plumbing system, hot water systems are particularly suscept...

Why do hamstring injuries happen so often and how can they be prevented?

In a recent clash against the Melbourne Storm, the Brisbane Broncos endured a nightmare rarely seen in professional sport — three players tore their hamstrings[1] in a single g...