Use Business Power of Attorney to Appoint A Reliable Agent For Your Business!

Operating a business firm in the UAE is not an easy task as you have to maintain a balance between day-to-day business operations and other essential functions such as meetings with clients, marketing, employee recruitment, remunerations, etc. You also have to make a necessary decision for the growth of your company so it can become very tedious and chaotic for you to handle all these things together.

To streamline your business operations and other activities, you can consider choosing a reliable person or persons to manage the day-to-day business operations and finances on your behalf so that they can make important decisions about your business even in your absence. For this purpose, you can think about making power of attorney for your business.

You can order a business power of attorney form from a licensed service provider online and hand over the responsibility of your business to the selected individual.

You can use power of attorney as a legal document for the confirmation of the handover of your business responsibility to a reliable individual. With the business power of attorney, you can appoint an agent to make decisions on your behalf and make him a legal representative for your business.

The use of a Business Power of Attorney may include:

1. Managing financial transactions: The agent can sign checks, pay bills, and handle other financial transactions on behalf of the business.
2. Making legal decisions: The agent may make legal decisions and sign legal documents on behalf of the business.
3. Representing or managing the business: The agent can represent the business in meetings, negotiations, and legal proceedings.
4. Making decisions in the owner’s absence: The owner can grant the agent the power to make decisions even if the owner is unavailable.
5. Streamlining operations: A Business Power of Attorney can make it easier for a business to run smoothly and efficiently by delegating tasks to the agent.

How to Issue Business Power of Attorney Online in the UAE?

The UAE notaries have been empowered to certify Power of Attorneys via online systems. The execution procedure is straightforward, involving video calls via the notaries system or BOTIM or Zoom with the principal, a person giving the POA. The notarization process is as follows:

Prior to notarization, the POA draft and the requirements need to be submitted to the notary. Please refer to the below requirements.

• Passport Copy of the Principal (person giving the POA)
• Passport Copy of the Attorney (person receiving the POA)
• Emirates ID Copy of the Principal (if UAE resident, front and back)
• Emirates ID Copy of the Attorney (if UAE resident, front and back)
• Contact/Mobile number of the Principal and the Attorney
• Trade License
• Memorandum of Association (MOA) and/or Articles of Association (AOA)
• Share Certificate and/or Certificate of Incumbency
• Incorporation Certificate of the Company
• Board Resolutions (if applicable)

Having a business power of attorney will allow the agent to deal with your business associates in your absence and also due to incapability. You can also add certain restrictions or limitations in the business power of attorney. You also have the right to fix the duration of the business power of attorney according to your specific needs. For example, if you are going abroad for one year, then you can add the term of POA in the form, and after completion of the fixed duration a power of attorney can not be used.

It is important to note that a Business Power of Attorney can be revoked by the owner at any time, and the scope of the agent’s authority can be limited in the document. You can cancel the power of attorney if you suspect that the agent is not carrying out responsibility according to the conditions of power of attorney. You can send the notarized revocation form to the agent and make it null and void from immediate effect.

Disclaimer: The content on this page is for general information purposes only and does not constitute legal advice nor should it be used as a basis for any specific action or decision. Nothing on this page is to be considered as creating a lawyer-client relationship or as rendering legal advice or legal services for any specific matter. Users of this website are advised to seek specific legal advice from their lawyer or legal counsel regarding any specific legal issues.