Find out how the power of attorney can be used for company formation purposes. For assistance, contact us at: https://www.opencompanyhongkong.com/.

1. Powerof
Attorneyin
HongKong
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OpenCompanyHongKong.com

2. The power of attorney is a
legal instrument that
allows the donor (the
person who gives the
power away) to appoint a
representative who will
take care of various
business or financial
matters under certain
conditions.

3. The main laws that govern the execution and the
enforcement of this instrument are the Powers of Attorney
Ordinance and the Enduring Powers of Attorney
Ordinance of the Laws of Hong Kong.

4. A Hong Kong power of attorney
can be used for many different
purposes, whether for personal
reasons or to handle business
matters.
It can be a useful tool for those
who wish to open a company in
Hong Kong.

5. Common business uses:
Company incorporation: appointing
an agent to handle part of the
company formation stages;
Banking: handling bank submissions
or account issues while the account
holder is not in Hong Kong.

6. Common business
uses:
Taxation: using the
document to make
submissions on behalf of
a taxpayer in Hong Kong;
Investment: the agent
can make investments
and handle asset
management issues as
indicated.

7. Can be issued for temporary
purposes, either for general
matters, such as handling all
financial issues, or specific
purposes, limited only to
certain transactions or
actions.
The general and
specific power
of attorney

8. The enduring
power of attorney
It has enduring power, meaning that the
agent will continue to handle the donor's
affairs once he becomes incapacitated.
Is a legal instrument that can be used to
appoint another party to handle financial,
business or asset management issues
once the grantor is no longer mentally
capable of making such decisions.

9. The appointed agent is
legally bounded by the
power of attorney.
The power of attorney is
drafted and concluded
only in the presence of
the donor and according
to the laws in force.
The presence of two
other witnesses is
required to attest to the
use of the instrument.

10. Our experts can help you use a
power of attorney for business
matters as well as asset
management.
We can also provide more details
on how to use a foreign-issued
power of attorney in Hong Kong.

11. www.opencompanyhongkong.com
clients@opencompanyhongkong.com
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