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  • Legal Entity Identifier – company trading shares
  • Stoner
    Free Member

    My share trading platform has just notified me that since I buy shares through my company, the company now needs a Legal Entity Identifier number as of next January to comply with new legislation. Getting a number costs £140 initially and £85 a year after that each year. It appears there is no way round this unless I buy the shares personally rather than using my company. Has anyone else come across this yet? Are there any workarounds for small companies that aren’t major share traders?

    canopy
    Free Member

    That sounds the same as being registered as a Ltd company?

    Different but I looked into making/selling mobile apps (hobbyist more than as a business) – Apple won’t let you sign up as a business without the same kind of information.

    Whereas I just wanted to keep my name out of the mix.. seems a lot, but if you’re making good money, why not?

    Stoner
    Free Member

    That sounds the same as being registered as a Ltd company?

    no it’s quite different. It’s trading register. It seems that the LSE is the issuing authority in the UK and they charge the hefty fees. In the Netherlands it’s only €65. In Spain it’s €100 initially and €50 each year after that.

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