Power of Attorney
In order for your Cyprus Lawyer to be able to legally represent you in relation to your Cyprus Property / Cyprus Investment, you need to legally appoint a lawyer in Cyprus with a power of attorney.
A power of attorney is a legal document which states what you authorize your Cyprus Lawyer to do on your behalf. There are generic power of attorneys and or specific power of attorneys. The type of Power of Attorney which you will need is dependent on several factors and this is something which you need to discuss with your Cyprus Lawyer prior to signing any power of attorney.
Depending on where the power of attorney will be signed will depend on the procedures which need to be completed in order to sign it.
If you sign the power of attorney in Cyprus, you will visit the local notary/mukhtar and you will sign this in their presence. (you must take the appropriate identity documents). Once signed the power of attorney will be taken to the Cyprus Tax office and ‘tax stamped’ to be legally valid for use in Cyprus.
If you sign the power of attorney abroad then the procedure is different. In accordance with the new laws of the Republic of Cyprus, any power of attorney signed ‘outside Cyprus’ must be signed in the presence of a notary and then sent for apostilling in order to be valid abroad. If the power of attorney is not apostilled then it is not valid in Cyprus by the various governmental and or non-governmental authorities. Once your Cyprus lawyer receives your duly signed, notarized and apostilled power of attorney they will then proceed to arrange this to be taken to the Cyprus Tax office and for it to be ‘Tax Stamped’.
Once the above procedures have been completed then the power of attorney is valid to be used for your Cyprus Investment and your Cyprus Lawyer will act within its scope.
If you are interested in investing in Cyprus and need a Cyprus lawyer, please do not hesitate to contact G KOUZALIS LLC for further help and assistance.