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

Top Tips for Finding the Ideal Block to Build Your Home

There’s something deeply personal and exciting about building your own home. You’re not just choosing paint colours or furniture, you’re creating a space that reflects your lifestyle, your dreams, and your future. However, before you start sketchin...

The Home Buying Process Explained Step by Step

Buying a home is a thrilling milestone, but it can also feel like navigating a maze without a map. With paperwork, finances, and decisions at every turn, understanding the home-buying process is crucial for success. Whether you're a first-time buye...

Thinking of Selling Your Home? Here’s What You Need to Know

Selling a home is more than just putting up a “For Sale” sign. It’s a strategic process that involves preparation, pricing, and negotiation - all aimed at getting the best value for your property. Let’s go through the most important steps to take b...

Smart Ways to Earn Passive Income from Real Estate

Imagine making money without doing much work. You get paid even while you sleep, travel, or do fun things. This is called passive income. Indeed, real estate has great ways to do this. You don't have to be a landlord all day; similarly, you don't h...

Food & Dining

Onsite Caterer vs a Full Service Venue: 9 important things to explore

Choosing between an external catering company and an all-inclusive venue is a major decision that affects cost, flexibility, food quality, and the overall event experience. Venues with in-house catering offer convenience and streamlined coordinatio...

Meal Prep as Self-Care? The One Small Habit That Could Improve Your Mood, Focus & Confidence

What if the secret to feeling calmer, more focused, and emotionally resilient wasn’t found in a supplement or self-help book — but in your fridge? That’s the surprising link uncovered by leading dietitians Anna Debenham and Alex Parker from The Biti...

Cult Favourite, TokyoTaco, Opens Beachfront at Mooloolaba this June

FREE Tokyo Tacos to Celebrate!  Cult favourite Japanese-Mexican restaurant TokyoTaco is opening a beachfront venue at the Mooloolaba Esplanade on Queensland’s Sunshine Coast this June.  The doors of the new venue will open on 18 June and to cel...

International lager claims crown as Australia’s most preferred beer

Launching its inaugural ‘Brand Map of Australia’, Tracksuit reveals Corona as the nation’s most preferred beer  Sydney, Thursday, 29 May 2025 - From iconic mass-produced lagers to innovative craft brews, beer is woven into the fabric of Australi...

Business Times

Agentforce for Financial Services: Merging AI and Human Expertise…

In this rapidly evolving world of financial services, deploying customer experiences that are personalized and intelligen...

Samsara Eco and lululemon announce 10 year partnership

lululemon and Samsara Eco Announce 10-Year Plan to Advance Recycled Material Portfolio Plan will see lululemon source a...

Barelli Bathrooms announces celebrity interior designer Kellie Ri…

Barelli Bathrooms, a leading name in contemporary bathroom accessories and design, is proud to announce its new national ...

The Times Features

Exploring the Curriculum at a Modern Junior School in Melbourne

Key Highlights The curriculum at junior schools emphasises whole-person development, catering to children’s physical, emotional, and intellectual needs. It ensures early year...

Distressed by all the bad news? Here’s how to stay informed but still look after yourself

If you’re feeling like the news is particularly bad at the moment, you’re not alone. But many of us can’t look away – and don’t want to. Engaging with news can help us make ...

The Role of Your GP in Creating a Chronic Disease Management Plan That Works

Living with a long-term condition, whether that is diabetes, asthma, arthritis or heart disease, means making hundreds of small decisions every day. You plan your diet against m...

Troubleshooting Flickering Lights: A Comprehensive Guide for Homeowners

Image by rawpixel.com on Freepik Effectively addressing flickering lights in your home is more than just a matter of convenience; it's a pivotal aspect of both home safety and en...

My shins hurt after running. Could it be shin splints?

If you’ve started running for the first time, started again after a break, or your workout is more intense, you might have felt it. A dull, nagging ache down your shins after...

Metal Roof Replacement Cost Per Square Metre in 2025: A Comprehensive Guide for Australian Homeowners

In recent years, the trend of installing metal roofs has surged across Australia. With their reputation for being both robust and visually appealing, it's easy to understand thei...