LEI code and organisation number: does the Brønnøysund Register issue LEIs?

When a Norwegian company hears that it needs an LEI code, many people start by looking at the Brønnøysund Register Centre (Brønnøysundregistrene). That's understandable: Brønnøysund registers the company and gives it an organisation number. But the Brønnøysund Register Centre does not issue LEI codes. Here we explain the difference and how the codes are linked.

Three numbers with different purposes

A Norwegian limited company often has three different identifiers:

• The organisation number (9 digits, for example 912 345 678) identifies the company in Norway. It is assigned by the Central Coordinating Register for Legal Entities (Enhetsregisteret) when the company is registered.
• The VAT number (for example NO 912 345 678 MVA) is used when the company is registered in the VAT Register.
• The LEI code (20 characters, letters and digits) identifies the company internationally on the financial markets.

The company gets the first two on registration. You have to apply for the LEI code yourself.

What is an LEI code?

LEI stands for Legal Entity Identifier. It is an international code that follows the ISO 17442 standard and uniquely identifies a legal entity anywhere in the world. All LEI codes are published in an open, free database maintained by GLEIF (the Global Legal Entity Identifier Foundation), the organisation that oversees the global LEI system.

Legal entities need an LEI code to trade exchange-traded securities such as shares, bonds and ETFs. The requirement comes from the EU rules MiFID II and MiFIR, which apply in Norway through the EEA Agreement.

Who issues LEI codes?

LEI codes are issued by organisations accredited by GLEIF, known as LOUs (Local Operating Units), and by the registration agents that work with them. The system is global and open to competition: a Norwegian company can get its LEI code from any accredited provider, in Norway or abroad.

Whoever issues the code, it has exactly the same value. It is published in the same GLEIF database and accepted by every bank and online broker.

How are the organisation number and LEI code linked?

When an LEI code is registered for a Norwegian company, the organisation number is used as the registration number. The details in the LEI record, such as the company's name, address and legal form, are checked against the Brønnøysund registers.

This has two practical consequences:

• The details must match. If the company changes its name or address in the Brønnøysund registers, the LEI record must be updated in the same way.
• Banks can find your LEI code. Because the organisation number is part of the LEI record, many banks and online brokers can link the code to your account automatically.

An LEI code does not replace the organisation number. The company keeps both, and they are used in different contexts.

How to choose an LEI provider

Prices and services vary between providers. Compare in particular:

• the validity period: 1 year, or several years at once;
• whether there is automatic renewal, so the code never lapses;
• whether the provider updates your details when something changes in the Brønnøysund registers;
• how easy it is to reach customer service;
• whether you can manage several LEI codes in one place, if you have several companies.

Can you change provider?

Yes. Your LEI code belongs to the company and never changes, even if you switch provider. You can transfer the management of the code to another accredited provider at any time. The code stays the same; only the manager changes. A transfer usually takes a few working days, and the code remains valid throughout.

Get or transfer your LEI code

At Global FinReg, we retrieve the company's details directly from the Brønnøysund Register Centre when you enter the organisation number, and we keep them updated if anything changes. You can choose a validity period of 1, 3 or 5 years, from NOK 664 per year excluding VAT with 5-year validity, and transferring your LEI code to us is free of charge.

Order an LEI code, transfer your LEI code or search for your company's LEI code.

In short

• The organisation number identifies the company in Norway; the LEI code identifies it internationally on the financial markets.
• The Brønnøysund Register Centre does not issue LEI codes. Organisations accredited by GLEIF do.
• The organisation number is used as the registration number in the LEI record, and the details must match the Brønnøysund registers.
• You can change LEI provider at any time without the code changing.