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Home>Use Business Power of Attorney to Appoint A Reliable Agent For Your Business!
Use Business Power of Attorney to Appoint A Reliable Agent For Your Business!
February 3, 2023 | by admin
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 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:
Making decisions in the owner’s absence: The owner can grant the agent the power to make decisions even if the owner is unavailable.
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?
Dubai Courts Notary has created an online system that facilitates the execution of Power of Attorney. The execution procedure is straightforward, involving phone calls or video calls via BOTIM or Zoom or simply a video recording from the Principal reading the summary of his/her POA. The notarization process is as follows:
To start with, you can place an order for the business package on our website directly or get in touch with us to help you with the order.
Once you place an order, we will collect the required information from you by email. 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
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)
3. After receiving the requirements, we will prepare a POA and send it via email to the principal (i.e. a person giving the POA) for review and approval.
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 several terms and conditions to the business power of attorney and make it into regulation. 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 attorney in the form, and after completion of the fixed duration you can cancel a power of attorney.
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 or may choose a new agent for continuing the process if you want.
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.