A Power of Attorney is an acknowledgment of the power granted to the Grantee or Agent by the Grantor or Principal to act on behalf of the Grantee or Principal. There are two types of POAs; General Power of Attorney (GPA) and Special Power of Attorney (SPA). Government Power of Attorney comes under the category of Special Power of Attorney.
The Power of Attorney is required for private affairs and some legal matters. A Power of Attorney is required for various situations. For example; if a foreigner wants to buy property in another country but in his absence, he or she needs to have someone to sign the property papers on his or her behalf. This is when the Power of attorney plays its power.
The Power of Attorney plays a very important role in businesses in Thailand. It is not always possible for a businessman, who has his business spread across the globe, to stay in one place to perform all the legalities and authorities for the particular business stationed there. This is when such businessmen need another trustworthy person who can perform these jobs on their behalf. The Power of Attorney will grant these powers to that person. But in order to validate one such Power of Attorney, the Thai legal system has quite a number of conditions that need to be fulfilled.
1) In Thailand, every Power of Attorney requires a supporting document. It is usually a copy of the Thai ID for a Thai resident. But for foreign businessmen, a copy of their passport is good enough.
2) It is essential to ensure that the Principal and the Agent are legally capable enough to grant or execute powers listed in the Power of Attorney.
3) A Power of Attorney needs to be properly witnessed. At least, two people are required to witness the signing of the Power of Attorney.
4) Power of Attorney forms is usually in Thai script. But even forms in English are valid these days.
5) It needs to be specified in the Power of Attorney form, what powers or responsibilities are assigned to the Grantee to act upon on behalf of the Grantor. It is also mandatory to mention, in the Power of Attorney, in what situation or when can the Agent executes his/her authorities.
6) A Power of Attorney is valid up to a period of three months from the date it is signed. But that is not all. The validity of the Power of Attorney also depends on the consideration and approval of the officer from the Land office.
7) In the case of the treaty of Amity and Economic Relations between the United States and Thailand, the Power of Attorney holds a significant role.
8) If a Power of Attorney is executed in a foreign land, then the document has to be notarized by an official or by an authorized official of the Royal Thai Embassy or Royal Thai Consulate based in the respective country. And this notarization should be done at least six months before submitting the application.
A Power of Attorney form, hence, needs to be carefully filled and signed by both the parties (Principal and Agent) to get hassle-free approval. The above-mentioned points need to be kept in mind before submission of the form to get approval at the earliest. It gives one the authority to choose the right person to perform their job on their behalf. Another significant aspect of having a Power of Attorney is that if a business or a person requires asset protection planning, it is never delayed. It also eliminates the necessity of guardianship. Mainly, it provides power to the Grantee to perform transactions and take decisions on behalf of the Principal and allows him to enjoy all public benefits.
