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Published : March 23, 2017 | Author : semlovelysharma
Category : Miscellaneous | Total Views : 203 | Unrated

  
semlovelysharma
Lovely is Tax law expert
 

How NRIs Send PoA from Abroad and Use its Attested Copy in India?

What if you are in urgent need of selling your Indian property but unable to visit India? What if you want to exchange your Indian currency notes from abroad? What if you as an NRI want to name your property in Sydney to your relative?
Like above asked questions, there are many queries of NRIs especially that remain unsolved. They go into overdrive to resolve their dilemma. But eventually, they find no solution. It’s actually the play of authority. Your own or any competent one’s presence can be approved as an authority. And once it is proven, you can effortlessly sell your property while being in foreign or get visa as well.

Let we educate more about Power of Authority (PoA), its significance and how it can help NRIs, PIOs and OCIs.

What is PoA? How an NRI can exchange INR while being in foreign?

Delegation of an individual’s power to another is what we known as Power of Authority. Be it monitory transaction or physical care, the PoA is acceptable by the legal competent authorities in India or abroad. Granting it implies that the giver is delegating the receiver on his/her behalf. Therefore, the receiver becomes eligible to sign and take decisions on the giver’s behalf.

For example, an emigrant can’t fly down to India. He wants to exchange INR worth 2.4 lakhs from SBI that he has parked at his home in India. Since the valid proof of bank account holder is mandatory, it seems a herculean task. But delivery of authority to his family member or relative can make it possible. By mailing a letter of authority and his scanned Aadhaar Card, passport or PAN card, he can easily get his work done.

Types of PoA:

· General PoA: This kind of authority can be fruitful in case the giver wants to handover substantial powers, like making monitory transactions.

· Particular/Specific PoA: This power is specifically granted for special reasons, like signing property papers.

What precautions should be taken while handing over PoA?

· Prefer granting specific PoA rather than general PoA.

· Mention the name of the nominated person clearly who is going to undertake your legal responsibility.

· Never underestimate the wordings. Read thoroughly. Understand the meaning of each and every word and premeditate its consequences.

· Don’t grant it blindly to anyone. Choose the most trustworthy and reliable one.

· Never designate any one to perform any illegal act on behalf of you since it is not possible.

Steps an NRI or OCI/PIO can follow to send PoA:

The member countries of the Hague Convention have a right to enjoy the PoA facility. Provided that the granted authority is notarized and apostilled, the emigrants can entrust their certain powers. They should remember that the mandatory certificate attestation services must be carried out by the Indian Consulate or Embassy. Find the nearest consulate office in your locality abroad to do so.

Emigrants require documents for the attestation of PoA:

· Two copies of PoA on stamp paper or plain paper.

· Valid passport

· Photocopies of first and last pages of passport

· Copies of address proof of the resident country (abroad) that can be Utility bills, driving licence or bank statement

· Visa/green card

· Attestation charges

· Valid identity proofs of the witnesses

Procedure to attest PoA papers at Indian Consulate in foreign

· NRIs, PIOs and OCIs need not prepare it on the stamp paper from India. It can be typed or written on any plain paper. All the powers that you are delegating must be clearly stated in simple words.

· State all the terms and conditions to be followed by the nominated person in PoA.

· Prepare two copies of it.

· Sign them in front of the consul & in the very presence of two witnesses.

· If the witnesses are not present at consulate, you can get their signature and notarize them.

· This procedure is more or less similar in the member countries of the Hague Convention.

NRIs register PoA for property purpose:

Registered documents of the property (be in India or abroad) are accounted for getting favour during property disputes in the court. Therefore, the attorney prepared for delegating property related decisions must be registered from the sub-registrar office.

· If the NRI is in India, register it on the stamp paper with the sub-registrar office.

· If abroad, it can be prepared on plain paper & the authority receiver must get it registered from Indian Consulate office.

· Take along original copies of address as well as identity proofs.

· Two passport size photographs with thumb impressions

· Identification paper of the witnesses.

During the scenario of demonetization, PoA can prove as the most powerful arsenal for exchanging old Indian currency.

 




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