Home Cyprus What is a Power of Attorney?

What is a Power of Attorney?

In our shipping enviroment there is sometimes a need to legally appoint another person or attorney to act on our behalf and in our name to complete business or legal matter transactions. A Power of Attorney is the only way that you can legally appoint another person or lawyer for this purpose which is commonly used in shipping between ship owner/manager and their law firm or authorised persons. To authorise eg a law firm to perform any task or deed, the firm is providing the Power of Attorney must have the necessary legal capacity. It is highly advisable to seek legal counsel if you intend to provide a Power of Attorney. A Power of Attorney in Cyprus, should be signed in the presence of a Certifying Officer. You should be known by the Certifying Officer and provide legal identification documents, so that the identity of the person signing the Power of Attorney cannot be disputed.  If abroad, then you can visit the Cyprus Embassy or Consulate, or alternatively a Power of Attorney needs to be signed and certified in the presence of a Notary Public Solicitor, which includes having the Power of Attorney apostilled, for legal use in Cyprus.

A Cypriot Power of Attorney, according to a person’s requirements can be prepared for a specific purpose or be drafted as a broad Power of Attorney.  The specific Power of Attorney, is normally limited to a particular task for a certain purpose and a time limit can be added to the completion of this task.  A broad Power of Attorney, can be used in opening eg Shipping Companies.  With the grant of a Power of Attorney, for example to a lawyer, the Power of Attorney will allow the lawyer to act on your (as their client) behalf, thereby assisting in the management of your affairs, which saves significant time in completing any legal tasks, especially if you are out of the country.

The grant of a Power of Attorney should be considered seriously and the person granting the Power of Attorney must fully trust the person to whom they are granting the Power of Attorney.  It is for this reason, that it is always best to go through a reputable and respected law firm.

The content of this article is valid as at the date of its first publication.  It is intended to provide a general guide to the subject matter and does not constitute legal advice.  We recommend that you seek professional advice on a specific matter before acting on any information provided.  For further information, please contact Elizabeth Michael at Elizabeth.Michael@kyprianou.com

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