How Power of Attorney Help NRIs?

Power of Attorney (POA) can help Non-Resident Indians (NRIs) in several ways. Here are some examples:

1. Property transactions: NRIs can grant a POA to a trusted individual in India to handle property transactions on their behalf. This can include buying, selling, leasing, or renting property.

2. Legal matters: NRIs can grant a POA to a trusted individual in India to handle legal matters related to property on their behalf. This can include filing lawsuits, settling disputes, and representing them in court.

3. Maintenance and management: NRIs can grant a POA to a trusted individual in India to take care of the maintenance and management of their property. This can include paying property taxes, utility bills, and maintenance costs.

4. Investment: NRIs can grant a POA to a trusted individual in India to handle their investments in India like mutual funds, stocks, bonds and real estate.

5. Banking transactions: NRIs can grant a POA to a trusted individual in India to handle banking transactions on their behalf. This can include opening and closing bank accounts, making deposits, and transferring money.

6. Tax Matters: NRIs can grant a POA to a trusted individual in India to handle their tax matters on their behalf. This can include filing income tax returns, paying taxes and claiming tax refunds.

It's important to note that a POA can be limited or general, in which case the attorney-in-fact is authorized to take actions within the scope of the POA. It's advisable to seek the guidance of a legal professional for any specific queries related to POA for NRIs and make sure that the POA is executed and registered in the presence of a notary or a lawyer.