What documents are required for LEI registration in Malta?
The required documentation when obtaining an LEI varies depending on the entity’s country of origin. In Malta, there are no additional documents required in the LEI application form.
The LEI system was created in response to the 2008 Global Financial Crisis and is aimed at improving transparency in financial data systems. At present, there are several methods of identifying entities across various markets and countries. However the Global LEI System (GLEIS), will ensure just one standard system that’s available for everyone worldwide.
Information required to register an LEI
One of the key benefits of the Legal Entity Identifier is the verification of the data and annual LEI renewals. This ensures trustworthy high-quality data.
The quality of this data means that firms can rely on it to reduce counterparty risk and improve their operational efficiencies.
Level 1 Data – Who is who?
The ISO 17442 standard specifies the minimum reference data (Level 1 Data),
that must be supplied for each LEI.
- The official name of the legal entity, as recorded in the official registers.
- The registered address of that legal entity.
- The country of formation.
- The codes for the representation of names of countries and their subdivisions.
- The date of the first LEI assignment; the date of the last update of the LEI information; and the date of expiry, if applicable.
Level 2 Data – Who owns whom?
Level 2 data answers the question of who owns whom? Its aim is to identify mother-daughter relationships among corporate structures.
Only entities whose parent or ultimate parent consolidates the financial accounts of the daughter entity have the ability to report Level 2 data. Mere ownership of the daughter entity does not yet meet the Level 2 reporting criteria for the daughter entity.
What documents are required for LEI Registration in Malta?
The required documentation when obtaining an LEI varies depending on the entity’s country of origin. All the provided information in the LEI registration application will be matched to a local business registry by a Local Operating Unit (LOU). In certain areas, the business registries obtain more information than others, and when the data needed to be matched is missing, your LEI service provider will get in touch to ask for additional documents.
As an example, some registries list the entity’s authorized persons, whereas in other registries that information might not be available. Since it’s necessary to confirm whether the entity’s application is coming from an authorized person, you’ll need to provide additional empowerment documents.
Malta’s local business registers provide a good overview of the local entities’ data. Therefore if you’re applying for an LEI in Malta, you won’t need to add any extra documentation to the application form.
LEI Register – number one Registration Agent worldwide
LEI Register is an official Registration Agent – we have been helping legal entities apply for new LEI codes or transfer and renew existing LEI codes since early 2018. We have successfully pursued our goal to make the LEI registration process simple, automated, fast, and affordable. At LEI Register we keep our profit margins low and believe in building long-term business relationships.
LEI Register has built a loyal customer base by offering the lowest prices on the market, whilst keeping active 7 days a week customer support in a local language in 35 countries.