Quick answer
No, a private individual cannot get an LEI and does not need one. When you invest in your own name, your bank or broker identifies you by a national client identifier, usually your personal ID code or passport number. The exception is a sole trader entered in a business register, who can get an LEI and may need one for some investments.
Investment platforms often ask new clients for an “LEI or national ID”, and many people pause at that field, wondering whether an LEI for individuals even exists. The two are alternatives: an LEI is for companies and other legal entities, a national ID for people investing privately. If you need the code for your company, you can apply for an LEI online through us, wherever the company is registered.
Why a Private Individual Cannot Have an LEI
An LEI, or Legal Entity Identifier, is a 20-character code that identifies a legal entity in financial transactions. Asked whether individuals can get one, the Global Legal Entity Identifier Foundation (GLEIF), which oversees the system, answers “in principle, no”. The code shows regulators which company, fund or trust stands behind a trade, so there is no personal LEI for someone acting in a private capacity.
What Your Broker Uses Instead of an LEI
When you buy shares, bonds or ETFs in your own name, an EU broker reports the trade to its regulator and identifies you by a national client identifier, the “national ID” the form asks for. EU transaction-reporting rules fix which identifier is used for each nationality.
Citizens of many EU countries are identified by their personal ID code, and someone from outside the European Economic Area usually by their passport number. For German and French citizens, the rules instead tell the broker to build the code from their date of birth and name. Crypto exchanges and other crypto-asset service providers in the EU identify private clients the same way, so crypto bought in your own name needs no LEI either.
When a Sole Trader Can Get an LEI
A statement by the LEI Regulatory Oversight Committee allows a person running a business in their own name to get an LEI. The business must be entered in a business register, the person may hold only one code, and it must be possible to publish their data, including the business name and address. Not every LEI issuer serves sole traders, so ask an issuer from GLEIF’s list of accredited organisations whether it accepts them.
Being able to get a code does not mean you need one, and countries read the rules differently. Sweden’s financial regulator says a sole trader needs no LEI to trade shares but must have one to trade derivatives, such as futures and options, under EMIR, the EU regulation on derivatives. The Dutch government’s business portal, by contrast, says entrepreneurs need an LEI to hold shares, bonds or derivatives. Before applying, ask your broker which identifier it expects.
| Who you are | How you are identified | Can you get an LEI? |
|---|---|---|
| Private individual investing in their own name | National client identifier: personal ID code, passport number or a code from name and birth date | No |
| Sole trader entered in a business register | National client identifier or an LEI, depending on the country and the investment | Yes |
| Company, fund or trust | LEI | Yes, and EU brokers require it |
Getting an LEI for Your Company
Our LEI service is for companies, funds and other legal entities registered in any country, not for sole traders. We work with WM Datenservice, a GLEIF-accredited issuer. You fill in our LEI application form and pay at checkout, and the code usually arrives within one or two working days. If you are unsure what your company’s bank or broker wants, forward us its request and we will check it with you.
Frequently Asked Questions
No. An LEI identifies one legal entity, so it works only for accounts held in the company’s name. For a personal account, the broker uses your national client identifier.
Usually because the same form is used for company accounts. If the account is in your own name, enter your national client identifier instead and confirm with the broker that it is a personal account. A registered sole trader may still need an LEI, depending on the country and the investment.
