How the International PoA Helps Secure Your Italian Property Investment and Protect Your Assets
When you buy property in Italy, we are here to make it easy and legal. The special power of attorney is a unilateral legal deed through which a person, (the representative), assigns to another person (our law firm) the power to represent him for a given deal or a stipulated task.
The representative shall list all the activities that the appointed can carry out on behalf of him. The PoA is limited to conferring on the appointee the completion of a given case so that it ceases to have effect when the deed for which it was drawn up is concluded. For instance, our clients grant us the PoA to effectuate an Italian real estate purchase in its’ entirety and then that special legal power is done. What that arrangement does is give us the power to make your purchase happen legally and quickly and for our clients to feel confident (wherever they are) that their deal is getting done.
The advantages of the special power of attorney are manifold. Domestic and International clients can’t or don’t want to attend the real estate purchase process and with a PoA, they don’t have to.
The Power of Attorney can be used for different purposes throughout the Italian real estate purchase process and other legal issues, including:
purchase of a property,
incorporation of new companies,
appoint a lawyer for a case in the Court, etc...
The international power of attorney to sell and purchase real estate must be given in writing, by means of private writing authenticated by the Notary or Consulate. Following the Budget Law, Italian consulates abroad provide certain services exclusive to Italian citizens resident abroad. Not all Italian consulates abroad provide assistance in this regard.
For example, in Austria, Belgium, France, Germany and Latvia, the Italian Consulate no longer offers notarial services, in this case, local notaries can fulfill the role. The special power of attorney to have legal validity in Italy must comply with special procedures and forms in the foreign country of issuance and the respect of well-defined formalities in Italy. The process to effectuate an Italian power of attorney is always two-fold for international clients: satisfy domestic notarization requirements and then satisfy Italian notarization requirements.
The procedures for issuance, authentication and legalization can vary from a country to another due to the fact that the foreign country of reference is part or not of international or bilateral treaties with Italy. This also implies a diversity of timing, depending on the different public offices involved.
To overcome all these difficulties, our Law Firm has implemented specific services to assist international clients in the correct procedures for issue and validity-- following all stages to avoid mistakes and save time. Normally we issue International Power of Attorney worldwide and maintain contacts with various notaries, both in Italy and abroad, public offices abroad, embassies, consulates, especially when, for some countries, legalization is necessary.
We assist several foreign clients throughout the entire process with the following steps:
Appropriate International Procedures: after a call with the client understanding their needs and home country location, we choose the correct international procedure to follow.
Italian Power of Attorney: we issue the PoA here in Italy, then we send it by e-mail to the client. At this point, we make contact with the Foreign Notaries and the Public Offices and once the procedure in the country of reference is completed according to our instructions, we receive again the International PoA for express courier with the signatures in original, apostille or legalization.
Legal Services: From here, we carry out the necessary legal activities in order to effectuate your necessary transaction from real estate to estate administration and beyond.
Our law firm has implemented specific procedures to manage special international PoA for individuals who live abroad. The entire procedure can vary from a minimum of 2/4 weeks up to 4/6 weeks.
Want to learn more about how we can help? Get in touch with c_legal Law Firm today. We would love to help you!