NRIs face problems in conducting any sort of financial transaction in India while living abroad since they can’t be physically present in India. So, for an NRI, Power of Attorney (PoA) comes in handy. This document delegates powers to the recipient to conduct transactions on behalf of the issuer.
Types of Power of Attorney
There are two types of Power of Attorney:
- General Power of Attorney: The General Power of Attorney gives authority to the recipient to conduct a variety of transactions, including monetary transactions.
- Specific Power of Attorney: The Specific Power of Attorney, as the name suggests, provides authority to conduct a specific or particular task like signing a document, etc.
Which Countries Allow this Facility?
This right is bestowed on every member country of the Hague Convention. The condition is that the granted authority must be notarized and also apostilled. Though the certification by Hague Convention “Apostille” is enough for recognition in India (being a member country), the authorities in India might ask for Consular attestation as well. To save time and avoid hassles, get the certificate attestation done at the nearest Indian Consulate or Embassy.
Documentation Requirements for Attesting a Power of Attorney at the Indian Consulate or Embassy
- Two copies of the Power of Attorney on plain paper
- Photocopies of the first and last pages of your valid passport
- One current photograph of yours on the last page of the Power of Attorney
- Address proof of the country of your residence. It can be utility bills, bank statements, etc.
- Copy of your valid visa/green card
- Identity proofs of the two witnesses
Steps for Getting the Power of Attorney Attested at the Indian Consulate
- Type or write the Power of Attorney on a white sheet of paper. You must explicitly and unambiguously state the powers that you want to vest on the recipient.
- Include all the terms and conditions that the recipient has to follow, in clear and simple terms.
- Make two copies of it, and sign all the pages in the presence of the designated officer at the Indian Consulate or Embassy, as well as two witnesses (based at the county of residence and non-family members).
- If the witnesses are not present in person, you would need to get their signatures notarized.
In case of a Power of Attorney issued for a property-related dispute, then the receiver needs to get the document registered at the sub-registrar’s office where the property is located or at the place of residence, whichever is applicable.
Just to reiterate the obvious: Grant the Power of Attorney to someone whose reliability is unquestionable. And always attempt to grant specific Power of Attorneys unless the situation warrants a general Power of Attorney.
