Making decisions is at the core of running a business – from negotiating deals and signing contracts to managing finances. But what happens when you can’t be there to handle everything yourself? Perhaps you are travelling, expanding into new markets or simply need to delegate tasks to trusted employees. This is where a corporate power of attorney comes in.
Whether you are travelling, expanding to new markets or dealing with the day-to-day operations of your company in your own country, having a corporate power of attorney can help run and manage your international business in your absence. For the corporate power of attorney to be put in force in your international company, the documents’ international validity has to be verified. This can be done with Global Apostille, which offers corporate power of attorney apostille services. The apostille confirms the legitimacy of the document for nations which are signatories to the Hague Apostille Convention.
What is corporate power of attorney?
A corporate power of attorney, sometimes known as a company power of attorney, is a legal document that gives a company the authority to choose a person or organisation to act on its behalf. In the case that a director is unable to manage and run the business, the company will assign a corporate power of attorney. This corporate power of attorney gives the attorney the authority to sign contracts, manage finances, handle legal issues, and make important corporate decisions on behalf of the company. However, the attorney does not have the power to act as a shareholder, buy and purchase shares, remove or appoint directors, or control family trusts.
A corporate power of attorney can be used when a business has a sole director and that director is unable to manage the business’s activities overseas, gets sick, loses capacity, disappears, or is on vacation. A corporate power of attorney guarantees that the business will continue to function in these situations. Corporate powers of attorney come into effect as soon as they are signed by the business and continue to exist until they are withdrawn or otherwise specified.
Types of Power of Attorney
South African law recognises two main types of corporate power of attorney:
- General Power of Attorney: A General Power of Attorney grants broad authority to act on behalf of the business. The appointed agent (or attorney-in-fact) can make decisions related to financial transactions, contracts, legal matters, and daily operation
- Special Power of Attorney: This limits the agent’s authority to specific tasks, such as signing a particular contract or selling a specific asset on your behalf. It clearly defines what the agent is authorized to do and limits their power beyond that scope.
The right type of corporate power of attorney is chosen based on your business needs, risk tolerance, and long-term strategy. A well-structured corporate power of attorney will ensure that your operations run smoothly while protecting your company from unnecessary risks.
Notarisation and Apostille and International Recognition
In South Africa, companies must obtain a notarised power of attorney from a relevant notary in order to have a document legalised with an Apostille. The notary must witness the signer signing the document after they have understood all the legal limitations, liabilities and responsibilities, and must confirm that they are doing so willingly and are not acting under any sort of pressure. After signing, the notary certifies the document by signing it and stating the date and time of the procedure, and endorsing it with their stamp. Failure to comply with these requirements may invalidate the power of attorney.
An Apostille is always required for a Corporate Power of Attorney when the document needs to be used in a foreign country. The Hague Apostille Convention, known as the Apostille Treaty, is an international agreement that simplifies the process of authenticating documents for use in foreign countries and reduce the need for lengthy and costly consular legalization procedures.
Apostille legalisation ensures that Corporate Power of Attorney issued in South Africa are recognised as valid in countries that are party to the 1961 Hague Convention.
Global Apostille legalisation service
Navigating the world of international business necessitates a thorough understanding of legal paperwork, and acquiring a corporate power of attorney apostille for your company is an essential step in that process.
Global Apostille is aware of the intricacies of the certification processes in different countries and provides streamlined services to ensure that your corporate power of attorney is correctly authenticated and fulfils specific requirements. Our agency has been helping clients in South Africa with the apostilling, authenticating, and legalising their corporate powers of attorney for more than ten years. We’ve helped clients in the DRC, the Netherlands, Saudi Arabia, the UAE, Portugal, Spain, Germany, Switzerland, and Zimbabwe, among other places. Partner with us to strengthen your global relationships and ensure that your Corporate Power of Attorney is accepted internationally.
For more information on our services please contact us. Tel: 012 348 3134| Mobile: 081 347 6060 | Email: info@apostillelegalisation.co.za
FAQs about corporate power of attorney
1.When do you need a notarisation and apostille of a corporate power of attorney from South Africa?
If a South African corporate power of attorney is to be used in a nation that is part of the Hague Convention, it usually needs to be notarised and apostilled. Notarisation is the process by which a notary public confirms the identity of the individual signing the power of attorney and witnesses the signature.
2.What is the turnaround time for a corp orate power of attorney apostille at Global Apostille?
Our standard apostille service takes up to 1 to 3 working days. We also offer same-day express apostille services.
3. Can you apostille a corporate power of attorney from a country outside South Africa?
South Africa does not apostille foreign documents, they only apostille documents from South Africa. Foreign documents must be apostilled or legalised in their country of origin.
4.Does corporate power of attorney need an apostille from DIRCO or the South African High Court to be used abroad?
For a corporate power of attorney, the High Court apostille is preferred over the Dirco apostille. This is due to the fact that the document was issued by a private entity (the company). While DIRCO (Department of International Relations and Cooperation) apostilles are used for documents issued by government authorities or entities, High Court apostilles are used for documents issued by private entities.
5.Can you apostille and translate the corporate power of attorney at Global Apostille?
Yes, Global Apostille offers both apostille and translation services for corporate power of attorney.
