Indian companies are going global faster than ever: setting up subsidiaries in Dubai, Singapore, London or the US, borrowing from overseas lenders, bringing in foreign portfolio investors and trading across borders. Almost every one of these moves runs through a bank that will ask one question early on: what is your Legal Entity Identifier (LEI)?
IndoglobalLEI issues, renews and transfers LEIs for Indian businesses operating overseas, with your LEI code typically issued in about 40 minutes once your application and documents are complete. The LEI is issued through WM Datenservice, a GLEIF-accredited Local Operating Unit, so it is recognised by banks and regulators in every country.
Why overseas business needs an LEI
An LEI is a 20-character ISO 17442 code that identifies your company in the Global LEI Index. Foreign banks, correspondent banks and regulators use it to confirm exactly who is on the other side of a transaction. In India, the Reserve Bank of India requires non-individual entities to quote an LEI for capital or current account transactions of ₹50 crore and above (single transaction), effective 1 October 2022. Even below that threshold, Authorised Dealer banks increasingly ask for an LEI as part of their KYC for cross-border work.
LEI for Overseas Direct Investment (ODI)
When an Indian company invests in, sets up or acquires a business abroad, the remittance is an ODI transaction routed through your Authorised Dealer bank. Large ODI remittances fall under RBI's LEI rule for high-value cross-border transactions, and banks routinely request the LEI of the Indian investing entity. Getting an LEI for overseas direct investment before you start the ODI paperwork avoids last-minute delays at the bank.
LEI for External Commercial Borrowings (ECB)
Raising a loan from an overseas lender, parent company or foreign bank is an ECB. Borrowers deal with multiple counterparties, reporting forms and drawdowns, and lenders and AD banks commonly ask for the borrower's LEI. Combined with RBI's LEI requirement for corporate borrowers with large aggregate exposure, an LEI for ECB is now a standard part of a cross-border loan file.
LEI for Foreign Portfolio Investors (FPI) and capital markets
SEBI uses the LEI to identify market participants, and foreign portfolio investors investing in Indian markets are expected to hold one. Indian issuers of listed debt and other securities must also have an LEI. If your group structure includes an FPI or you are raising capital from foreign investors, plan the LEI alongside your registration.
LEI for your subsidiary abroad
Your overseas subsidiary, branch entity or wholly owned subsidiary (WOS) usually needs its own LEI to open bank accounts, trade or report locally. The Indian parent's LEI and the subsidiary's LEI are linked through parent relationship data in the Global LEI Index, which gives banks a clear picture of your group. We can register LEIs for the Indian parent and help you plan the subsidiary's LEI, whether it is in the UAE, Singapore, the UK, the US or elsewhere.
LEI for import, export and foreign remittances
Importers and exporters move money across borders constantly: advance payments, letters of credit, trade finance and foreign remittances. Banks use the LEI to screen counterparties and speed up compliance checks. Having an active LEI for your import export business keeps large payments from being held for additional verification.
GIFT City (IFSC) entities
Entities set up in GIFT City's International Financial Services Centre operate in a global financial environment where an LEI is a basic identifier for banking, trading and regulatory reporting. We register LEIs for IFSC units just like any other Indian legal entity.
Who can apply
- Private and public limited companies with overseas investments, subsidiaries or foreign lenders
- LLPs and partnership firms doing cross-border trade
- NRI-owned Indian companies and Indian subsidiaries of foreign groups
- Funds, trusts and FPIs investing in or from India
- GIFT City (IFSC) units, NBFCs and treasury entities
How to get your LEI
- Apply online: search your company by CIN or name and we auto-fill your details from MCA.
- Upload documents: incorporation certificate, PAN and the authorisation letter.
- Pay securely: 1, 3 or 5-year plans, GST and GLEIF fees included, from ₹2,999 per year.
- Receive your LEI: your LEI code and digital certificate, typically in about 40 minutes after verification.
Already have an LEI from another provider? You can transfer it to IndoglobalLEI without changing the code, or renew it if it has lapsed.