Legal Entity Identifier (LEI) vs Tax Identification Number (TIN) in Singapore
The Legal Entity Identifier (LEI) is a standard identifier that provides verified data on legal entities and is registered on a centralized system, the Global LEI System. The Tax Identification Number (TIN) in Singapore is related to different entity ID types like Business (ROB), Local Company (ROC), and others.
Legal Entity Identifier (LEI) in Singapore
The LEI is a 20-character alphanumeric code that is based on the ISO 17442 standard developed by the International Organization for Standardization (ISO). LEI number references important information that offers transparency when participating in financial transactions such as trading with stocks, bonds, or forex.
LEI connects to key reference information that enables a clear and unique identification of legal entities participating in financial transactions on a global scale. Each LEI contains well-structured reference data categorized into 2 sections: Level 1 data – ‘who is who’ and parental (Level 2) data – ‘who owns whom.’
Level 1 data includes entity registration details, such as legal name, number of registration, legal and HQ address, etc. Parental (Level 2) data contains information about an entity’s ownership structure and thus answers the question of ‘who owns whom’.
Simply put, the publicly available LEI data pool transfers unstructured entity registration data into a standardized global directory, which helps to enhance transparency in the global marketplace.
How to get an LEI in Singapore?
An LEI number must be obtained through an LEI service provider, a Local Service Provider (LOU), or a Registration Agent. The Global LEI System (GLEIS) is designed to encourage competition between LEI issuers and registrators to benefit legal entities seeking to obtain an LEI. Generating a price for issuing and maintaining an LEI has therefore been left to the organizations themselves. This explains why some companies charge double the price of their competitors.
Where to find LEIs in Singapore?
Any interested party can access and search the complete global LEI data pool free of charge. You’ll be able to quickly source information on who is who and ‘who owns whom.’
LEI Register – Number one Registration Agent worldwide
LEI Register is an official Registration Agent – we have been helping legal entities apply for, transfer, and renew LEI codes since early 2018.
We have succeeded in our mission to make 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.
Tax Identification Number (TIN) in Singapore
Entity ID Types
UEN – Business (ROB): Standard entity identification number issued to Businesses registered with the Accounting and Corporate Regulatory Authority of Singapore (ACRA).
Consists of 9 characters.
UEN – Local Company (ROC): Standard entity identification number issued to Local Companies registered with ACRA.
Consists of 10 characters.
UEN – Others: Standard entity identification number issued to all other entities, not businesses or local companies. Consists of 10 characters.
Where to find TINs in Singapore?
The TIN for businesses and local companies is printed on the Certificate of Registration or Certification of Incorporation issued by ACRA.
Singapore TIN (2022) [online].
Available at: https://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/tax-identification-numbers/Singapore-TIN.pdf [Accessed 5th April 2022]