A Power of Attorney (POA) is a legal document that grants someone the authority to act on behalf of another person or entity. This can include signing documents, making decisions, and handling financial matters.
Types of Power of Attorney
There are two main types of POA:
- General POA – Grants broad authority to the appointed individual.
- Special POA – Grants authority for a specific task or limited set of responsibilities.
Why Power of Attorney is Important
A POA is particularly useful for business owners who need someone else to manage certain tasks or decisions, especially in a jurisdiction where they do not reside. It can help streamline operations and ensure that decisions are made when the primary decision-maker is unavailable.
How HSP Group Can Help with Power of Attorney
If you need a trusted representative to act on your behalf in a specific country, HSP Group can assist with setting up the right Power of Attorney arrangements for your global operations.