Corporate Identification Number (CIN) is an alpha-numeric code issued to a company incorporated in India when it is registered with the the Registrar of Companies (ROC), Ministry of Corporate Affairs (MCA). ROC offices are located in different states across the country.
The Legal Entity Identifier (LEI) is a global reference number that uniquely identifies every legal entity or structure that is party to a financial transaction. The Legal Entity Identifier is issued to companies and organisations around the world. The LEI System is managed by Global Legal Entity Identifier Foundation (GLEIF).
GLEIF is headquartered in Basel, Switzerland, and is a not-for-profit organization that supports and oversees the implementation and use of LEI. GLEIF is backed and overseen by the Regulatory Oversight Committee, representing public authorities from around the globe that have come together to jointly drive forward transparency within global financial markets.
Company Identification Number (CIN)
Company Identification Number (CIN) is used for tracking all the aspects and activities of a company in India from the date of its incorporation by the Registrar of Companies (ROC) and is required to be provided on all the transactions with the respective ROC.
The 21-digit CIN has its own meaning which is easily translatable, and which helps in discovering basic information relating to a company. It is used for finding the primary details of the companies which are registered in India under the Ministry of Corporate Affairs (MCA).
CIN is a unique number that can be used for identifying or tracking companies and obtaining different types of company information filed with the ROC. The CIN contains details of the identity of a company registered in India and other information such as its capital structure, shareholding pattern, Board of Directors, registered address, contact details, etc.
Legal Entity Identifier (LEI)
The Legal Entity Identifier is a 20-character, alpha-numeric code based on the ISO 17442 standard developed by the International Organization for Standardization (ISO). The LEI connects to key reference information that enables clear and unique identification of legal entities around the world that participate in in financial transactions. Each LEI contains information about an entity’s ownership structure and thus answers the questions of ‘who is who’ and ‘who owns whom’.
Global Legal Entity Identifier Foundation (GLEIF) makes available the Global LEI Index; i.e. the only global online source that provides open, standardized and high quality legal entity reference data. By doing so, GLEIF enables people and businesses to make smarter, less costly and more reliable decisions about who to do business with.
The LEI data pool can be regarded as a global directory that greatly enhances transparency in the global marketplace.
Why obtain a Legal Entity Identifier?
- LEI is a global identifier that is endorsed by the G20 and the Financial Stability Board (FSB). Regulatory Oversight Committee (ROC) of FSB provides overall framework for LEI and the operational arm of ROC, Global Legal Entity Identifier Foundation (GLEIF), Switzerland manages the global LEI system (GLEIS) through LEI issuing entities, known as Local Operating Units (LOUs).
- It is standardized across countries.
- LEI serves as an essential identifier in cross border (international) transactions.
- LEI confers global credibility on your business, financial institution or organization. You can mention your LEI on your website and stationery and incorporate in QR Codes, Bar Codes, Website Seals etc.
- Small & Medium Enterprises (SMEs) that obtain LEIs can stand out from amongst their peers in the domestic and global marketplace.
Who is eligible for obtaining the Legal Entity Identifier?
Any legal entity that is a party to financial transactions can obtain a LEI. This entity could be an incorporated entity, partnership firm, proprietorship firm, bank, mutual fund, asset management company, trust, holding company, special purpose vehicle (SPVs) etc.
Rubix Data Sciences has been appointed as a Validation Agent for the Legal Entity Identifier by GLEIF and Legal Entity Identifier India Ltd (LEIL).
As per the terms of its appointment, Rubix is responsible, inter alia, for:
- Validating applicant data before an LEI can be issued to the applicant
- Marketing of LEI to prospective legal entities
- Assisting legal entities in the LEI application process so as to make it seamless
To proceed with your application for the LEI, please click here: APPLY FOR LEI
You can also call a Rubix representative at 18002584421 for assistance in completing your application. We will be happy to help!