The power of attorney
is a legal instrument that allows one party to transfer all or some of its rights and powers to another party. The transfer period may be limited or indefinite, as needed to perform a certain act or take care of several matters.
It can be used for business or personal purposes and, in family matters, it can represent an adequate alternative to guardianship.
Our attorneys in Austria
are able to help you with detailed information about how to conclude a power of attorney.
The uses of a power of attorney
The power of attorney can be used in a multitude of cases, from handling personal matters to handling tax and financial businesses, to signing contracts and company documents, to handling all or some of the company formation steps in Austria.
The issuer must clearly specify the task or the tasks for which he empowers the agent. Foreign investors in Austria who cannot be present in the country at all times may use the power of attorney. It can be used to empower another individual to register the company with the Companies Registry
or for Austrian VAT purposes.
Both the principal and the agent must guarantee that they are entering into this relationship in good faith and that the data included in the legal document is accurate. An attorney in Austria can help you draw up the power of attorney, as needed for your legal representation needs.
Information included in a power of attorney
The power of attorney needs to contain the identification details of the two parties. The issuer of the document states his/her identification details and the purpose for which the power of attorney is issued. This can vary according to the representation needs, the activities that need to be performed or the period of time for which the powers are being delegated.
The attorney-in-fact’s identification details are also included in the document. Further instructions may be provided for special cases. The document will always include the signatures of the two parties and the date of authentication.
One of our lawyers in Austria
can help you conclude a power of attorney. Together with one of our attorneys, you can draw-up a document that will observe your instructions and needs.