How to Prepare a Power of Attorney in UAE.
What is a Power of Attorney?
What Does a Power of Attorney Cover?
General VS Special VS Lasting Power of Attorney
A Special Power of Attorney can be used by an executor to give powers to an agent on the former’s behalf in cases when the principal would fall ill or be disabled or even out for a travel or simply unable to manage a certain task. The principal can appoint an agent with the powers listed under General Power of Attorney or any other powers that the principal necessary for the agent to have in order to fully act on his behalf.
Basically, it covers the people who can see in the future that they won’t be able to be physically or mentally capable of doing their own personal, financial, or business affairs. It is used to make arrangements for them to appoint members of their family or even friends to make decisions on behalf of them. In UAE, however, there is no law with regard to lasting power of attorney.
How to Prepare a Power of Attorney in UAE?
There can be various documents needed for a Power of Attorney depending on the department using them as discussed above. If you would like to discuss this further please do not hesitate to call and we will happily introduce you to our affiliated partner who specialises in setting up POAs in UAE.