A legal instrument
A power of attorney is a special document that allows its possessor to fulfill any acts as described in the document when the person legally entrusted to perform those acts is incapable of doing so.
A power of attorney in Hong Kong
can be used for multiple purposes, either for the incorporation of a company
when the investor cannot be present in Hong Kong or for personal purposes like fulfilling the wishes of an incapacitated individual or signing on behalf of another person for purchasing a property.
Execution of powers of attorney in Hong Kong
A power of attorney in Hong Kong can be issued for general or specific purposes. The general type is invalidated if the donor (the person who gives the power of attorney to another) becomes mentally incapacitated. Alternatively, the donor can revoke the power of attorney or he or she can conclude such a document only for a limited purpose, like renting or selling one particular property.
The power of attorney
is concluded in the presence of the donor of the power. When such a document is sealed by a person as directed by the donor of power and in his or her presence, then two other persons should be present as witnesses. Our partner lawyers in Hong Kong
can act as attorneys on your behalf, should you need any legal assistance.
Enduring power of attorney in Hong Kong
Unlike a general power of attorney that ceases to have effects if the donor becomes mentally incapacitated, an enduring power of attorney offers the empowered individual the capacity to continue to take care of the donor’s financial affairs despite his or her mental incapacity. The donor must appoint the attorney(s) while he or she is still mentally capable.
An enduring power of attorney is useful because it can avoid potentially expensive court proceedings that would be needed to determine who should look after the affairs of the incapacitated individual.