Often, people who set up Offshore companies need to promptly take action or sign documents on behalf of the company in furtherance of the Company’s business and legal interests (eg: where the deal in question does not allow time for the forwarding of documents for signing by the Company Director offshore). At the same time the person undertaking business on behalf of the Company may not wish to reveal his or her identity as the underlying owner of the Company.
A Power of Attorney can be useful in respect of such matters though it may need to be checked by local legal advisers as in certain instances such a document may be construed as handing control of the Company for legal purposes to persons classified as resident onshore for tax purposes. This may have tax and/or legal consequences.
For more information on how our Power of Attorney service works please Contact Us