How to get a Legal Entity Identifier singapore ??
A legal entity identifier is a 20 digit alpha-numeric code that is used to identity counterparties to regulated financial activities globaally.
There are over 200+ mandates requiring use of the LEI in reporting globally, including MiFID 2/EMIR in Europe, US Dodd-Frank Act and local jurisdictional securities laws in financial markets around the world including Singapore.
Market participants in these regions, and those in Luxembourg transacting with entities in foreign regions will be subject to local LEI regulations.
If you wish to obtain a Legal Entity Identifier in Luxembourg please see below:
LEI Worldwide are connected to the ACRA registry data, meaning you can receive your LEI in minutes.
STEP 1: Click the Register New LEI button. If you already have an account ensure you are logged in, you may also proceed as a guest.
STEP 2: Enter your company name and click SEARCH. This will locate your company on the Singapore ACRA registry.
STEP 3: Select your company from the list. If your companny does not appear click 'Manual Entry' e.g if it is a Fund.
STEP 4: Enter additional relevant company information so the LEI data in Singapore can be registered accordingly.
STEP 5: Proceed to checkout and complete payment.
Once your application is comete the LEI will be processed and confirmation sent to you via email.
LEIs help businesses link data sets, improving analysis.
Building a complete picture of a business, by linking its data, could also help small businesses to access finance.
We will champion the LEI as a globally recognised identifier for all businesses in the UK.
- The Bank of England
Why use LEI Worldwide?
- Fastest Singapore LEI Applications - ACRA API Connectivity
- All Singapore legal entity types covered
- Global leader in Fund LEI Management
- Official listing on global LEI index
- LEI portfolio management tools
- Full global coverage
- Get started with LEI Worldwide today
LEGAL ENTITY IDENTIFIERS IN singapore
Over 11,000 Singapore registered companies have already obtained an LEI. Legal Entity Identifier requirements in the Singapore stipulate that to engage in cross border transactions an active LEI Number must be present. The Mifid II directive was introduced for European entities that trade in securities, and is also mandated under a litany of EU regulations falling under the scope of AML, KYC and transaparency directives. Singapore has one of the most competitive financial sectors in the Asia-Pacific regions, and is home to over 12,000 financial institutions.
Since the 1960s Singapore has established itself as the leading Asian-Pacific financial sector with regards to foreign trade and commodity trading. With strong links to London, Singapore is Britains largest trading partner in South East Asia.
Singapore, a strong member of the World Trade Organisation (WTO), has a strong import economy and its largest imports are manufactured goods, electronics, machinery and chemicals. Singapore also has strong export relations with the US, China and its neighbours Indonesia and Malaysia.
Singapores strongest industry is the financial sector with a strong presence in banking, particularly investment banking, wealth management and capital markets activity.
This has contributed to the large number of LEIs registered in Singapore (11, 300 LEIs in total). But the vast majority of LEIs in the region are driven by regulation. Similar to Australia and Hong Kong, the sale of securities and OTC Derivatives requires the mandatory reporting of an LEI Code in Singapore.
In 2014 the Securities and Futures Act introduced the LEI as a requirement in Singapore under section "Monetary Authority of Singapore (MAS) OTC Derivatives Trade Reporting - Securities and Futures Act (Chapter 289)".
Any entities engaging in similar transactions internationally or with the EU will fall under the SFTR and CSDR regulatory requirement for reporting an LEI also.
The Monetary Authority of Singapore (MAS) have strongly advocated for the use of the LEI in reporting standards and have adopted international reporting standards.
The following classifications are examples of entities that require an LEI in Luxembourg:
- Sale, purchase or repossession of securities
- Issue equity, debt and all entities listed on an exchange
- Engaged in OTC Derivatives markets
- Are supervised by a financial regulator and their affiliates, subsidiaries and holding companies
- Trade with an EU-licensed broker
- Fall under the categories of Mifid II, Emir, SFTR, CSDR
- Engaged in international trade with EU, US or AU
ABOUT LEI WORLDWIDE
LEI Worldwide is an Official GLEIF LEI Registration Agent (RA), and the first RA providing LEIs on a global basis since 2017. Our approach since inception has been focused on providing high quality customer service and helping our clients manage large portfolios of LEIs.
LEI Worldwide was formed to help some of the worlds largest organisations meet their regulatory requirements, with emphasis on the updated Markets in Financial Instruments Directive (MiFID II) & regulation (MiFIR) and to assist entities in the process of obtaining an LEI number.
There are over 144 pieces of legislation globally mandating the use of the LEI. If your firm is subjected to regulations such as MiFID II transaction reporting obligations, you will require a UK Legal Entity Identifier number or you will be declared ineligible to execute a trade in the UK.
This could mean a no trade ruling or financial penalty “no LEI, no trade” as the saying goes.
In order to meet the demand, and the volume of firms applying, LEI Worldwide have created a designated state-of-the art, proprietary LEI registration and management portal called RAMP 2.0 (Registration Agent Management Platform) which streamlines and automates the process, ensuring timely registration and ease of LEI portfolio management.
We cater for companies from anywhere in the world and those who are seeking a Legal Entity Identifier from all countRIes. By co-operating LEI issuing organisations, and uniquely providing global access, we bring our clients the fastest and most comprehensive LEI solutions available on the market.
We aim to fulfill our mission of providing a first class service which will facilitate the global conformity to the ISO 17442 standard and GLEIFs mission to fulfill “One identity behind every entity”.
