Execution time: 20 minutes
Consultation while executing: free of charge
Documents for an individual: Passport, TIN, Agreement with a bank having account details for which a power of attorney is given
Documents for a legal entity representative: Protocol and order, (or other credentials of a signatory), Articles of association, extract and seal, Passport and TIN of a signatory, Agreement with a bank having account details for which a power of attorney is given
Please note: An attorney (the one to whom the power of attorney is drawn up) does not have to be present! Only his data is required: full name, registration address, TIN, date of birth, passport details (if necessary).
A safe deposit box is one of the safe methods of storage of your money, jewels and other personal belongings, which is widely used by citizens. If you want to allow other person to have an access to your safe deposit box, you need to formalise a power of attorney for use of a bank safe deposit box.
Such power of attorney should include a name of bank (its division, address), where your personal safe deposit box is located; the identification and number of safe deposit box would be preferred.
An attorney under such power of attorney may exercise a wide range of powers: have an access to an individual safe deposit box, use keys to a safe, place in and withdraw from a safe any belongings, pay for the use of a safe, terminate the existing agreement and so on. List of the powers varies depending on the purpose of a power of attorney itself and degree of your confidence in an attorney.
Therefore, in a power of attorney for use of a bank safe deposit box you must define what are exactly the powers that you want to transfer to an attorney, and then explicitly state them in the document.
Please note that some banks require an excerpt from the Register of powers of attorney on the registration of the power of attorney to be presented with the power of attorney.
We recommend to notarise several copies of a power of attorney right after its original notarisation because an attorney may require them to exercise his/her powers. One copy of a power of attorney you must keep for yourself, whereas if you want to cancel this power of attorney, it would be easier for a notary to find it in the Register of powers of attorney and make a record on cancellation.
A power of attorney for use of a bank safe deposit box includes information on an attorney (full name and registered place of residence; his/her passport details of an attorney and registration number of the taxpayer identification card (formerly called individual taxpayer number) may be additionally indicated). Therefore, to notarise a power of attorney, you need to provide a notary with the information stated above.
A power of attorney may be used to grant powers to either one or several specific persons at the same time, who will be entitled to act jointly and independently from each other.
