Legal Entity Identification number (LEI)

[nobel]

Is it correct that I need a Legal Entity Identification number (LEI) for a company? The banks need it I was told. I am amazed that it has never been discussed here.
What do you all mean?

 

[JustAnotherNomad]

You need it if you want to buy stocks/trade on your company’s name.
You don’t‌ need it if all you want is a business checking account.

 

[nobel]

Yes, many would like to buy shares. Only money in the account is bad. LEI‌ doesn't seem to me to be anonymous because anyone can search for it. Mmmh.

 

[thirtyniner]

You also need it if you need to fix an exchange rate for a future‌ maturity date (Swap).

 

[nobel]

That's bad, anyone can find you with your address, for an offshore company complicated and‌ not discreet I think. Does anyone have an LEI number?

 

[Silvio]

Only company address is shown on LEI DB, not the owner address