UAE POWER OF ATTORNEY
This Power of Attorney is made and entered into on this day, [DATE], by and between [YOUR NAME], having a permanent residence at [YOUR COMPANY ADDRESS], hereinafter referred to as the "Principal", and [APPOINTED AGENT'S NAME], having a permanent residence at [APPOINTED AGENT'S ADDRESS], hereinafter referred to as the "Attorney-In-Fact".
I. IDENTIFICATION OF PARTIES
I, [YOUR NAME], (the "Principal") residing at [YOUR COMPANY ADDRESS] and the Attorney-In-Fact, [APPOINTED AGENT'S NAME], residing at [APPOINTED AGENT'S ADDRESS], (the "Attorney-In-Fact") hereby agree to the following conditions:
II. SCOPE AUTHORITY
The Agent is authorized to represent the Principal in all legal matters within the jurisdiction of the United Arab Emirates ("UAE"), including but not limited to, financial transactions, property management, and legal proceedings.
Financial Transactions
The Agent is empowered to conduct and oversee all financial transactions on behalf of the Principal within the jurisdiction of the United Arab Emirates ("UAE"). This includes but is not limited to banking activities, investment decisions, and monetary negotiations.
Property Management
Within the boundaries of the UAE, the Agent is entrusted with the management and administration of all property owned or controlled by the Principal. This encompasses tasks such as leasing agreements, property maintenance, and rental collections.
Legal Proceedings
The Agent is vested with the authority to represent the Principal in legal matters occurring within the jurisdiction of the UAE. This extends to initiating legal actions, responding to legal notices, and engaging in litigation or arbitration processes as required to protect the interests of the Principal.
III. TERM
This Power of Attorney will begin to hold its effectiveness starting from the specified date of commencement, which is [EFFECTIVE DATE], and it will uphold its validity until it reaches the predefined termination date, which is [EXPIRATION DATE]. However, it should be noted that this Power of Attorney can be invalidated and terminated ahead of the pre-appointed expiration date if it is revoked at an earlier point in time.
IV. REVOCATION CLAUSE
I maintain the authority, at any time that I see fit, to rescind this Power of Attorney. To do so, I will provide the individual acting as Attorney-In-Fact with a written notice detailing my intentions to revoke this legal power.
Flexibility in Authority: The revocation clause grants the principal the flexibility to alter the terms of the Power of Attorney as circumstances change, ensuring their wishes are accurately represented at all times.
Formal Notification Requirement: By stipulating written notification as the method of revocation, the principal establishes a clear and formal process for terminating the Power of Attorney, providing legal clarity for all parties involved.
Control Over Legal Representation: This clause affirms the principal's control over their legal representation, allowing them to revoke the authority granted to their Attorney-In-Fact if they no longer wish for them to act on their behalf.
V. SPECIFIC POWER
The Attorney-In-Fact shall have the power to represent me in all matters about
Conducting financial transactions on behalf of the Principal.
Manage and lease real estate properties owned by the Principal.
Represent the Principal in legal proceedings and sign legal documents.
Manage bank accounts and investments owned by the Principal.
Make healthcare decisions on behalf of the Principal if necessary.
VI. INCAPACITY PROVISIONS
This Power of Attorney shall remain in effect even if I become incapacitated, and the powers granted herein shall only be exercisable during such period of incapacitation.
VII. GOVERNING LAW
This Power of Attorney shall be governed by and construed under the laws of [STATE], United Arab Emirates.
VIII. MISCELLANEOUS PROVISIONS
Any actions that are performed by the Attorney-In-Fact who is acting in their capacity under this Power of Attorney are to be considered legally binding and enforceable not only upon myself but also upon all assets, rights, titles, and interests held in my estate.
VIII. ACCEPTANCE OF APPOINTMENT
Acknowledgment of Principal
This Power of Attorney shall be effective immediately upon my signature and shall remain valid until my explicit and written revocation.
[YOUR NAME]
[DATE]
Acceptance of Agent
I, [ATTORNEY'S NAME], acknowledge that I have read and understood the terms and responsibilities outlined in this Power of Attorney document. I accept the appointment as Agent and agree to act under the instructions and limitations provided herein.
[ATTORNEY'S NAME]
[DATE]
NOTARY ACKNOWLEDGEMENT
On this day of in the year , before me, a Notary Public in and for said County and State, personally appeared [YOUR NAME], known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged that they executed the same for the purposes therein contained.
Witness my hand and official seal.
[NOTARY PUBLIC'S NAME]
My Commission Expires:
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