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Publication date: 18.02.2025
My name is Olga Vasylivna Borodina, I am a private notary with 20 years of experience in the field of civil law. I work with both individual and business clients, providing notarial services that include certifying agreements, notarizing signatures, and other legal documents. My clients are thousands of grateful people whom I have helped resolve important legal issues. I am also currently training to become a mediator to further assist people in conflict resolution. Personal slogan: Where I am, success reigns.
Disposition of Corporate Rights in a Company Located in Occupied Territory
A married couple from Ukraine, currently residing in the United Kingdom, contacted me regarding the disposition of corporate rights in a company registered in the temporarily occupied territory. The clients owned shares in the company but, due to the inability to travel to the occupied territory, faced the need to transfer their corporate rights. They provided the name of the company, the size of their shares, and the person to whom they intended to transfer these rights.
After reviewing the data, I determined their nationality, right to stay in the UK, and place of registration. As the clients were unable to return to the occupied territory, there was a need to create a power of attorney that would allow them to transfer the corporate rights through a trusted person.
Power of Attorney Process and Its Translation
I successfully created a bilingual power of attorney, prepared both in Ukrainian and English. Then, I arranged a meeting with a notary in the United Kingdom. The notary's office was centrally located, making it easy for the clients to reach it by public transport. It only took 15 minutes to notarize the power of attorney, after which all documents were signed and handed over to the notary for apostille.
Two days later, the clients received the original document with the apostille by mail at their address. This allowed them to resolve the issue of transferring the corporate rights without the need to return to the occupied territory.
Steps for Executing the Power of Attorney
- Step 1: Determine the legal situation and prepare the necessary documents for the power of attorney.
- Step 2: Translate the document into English for legal validity in the United Kingdom.
- Step 3: Execute the power of attorney with a notary located in a convenient area.
- Step 4: Obtain the apostille and receive the document by mail.
Questions and Answers
Question
What documents need to be prepared for transferring corporate rights if the company is registered in the occupied territory?
Answer
To transfer corporate rights, you need to prepare a power of attorney allowing a representative to act on behalf of the owners, translate it into the relevant language, and legalize it with an apostille.
Question
Is it possible to execute a power of attorney without having to personally visit the country?
Answer
Yes, you can execute a power of attorney through a consulate or a notary in another country without physically being present in the country where the company is located.
Why You Should Contact a Lawyer?
- Legal Support: Professional assistance in drafting the power of attorney and verifying documents.
- Protection of Interests: Ensuring the proper procedure for transferring corporate rights.
- Time Savings: Assistance in organizing the process without needing to physically be in Ukraine or the occupied territory.
Legal Support: Preparation and verification of all documents.
International Assistance: Legalizing documents for use in the United Kingdom and Ukraine.
Transfer of Rights: Proper execution and transfer of corporate rights.
When addressing the disposition of corporate rights, it is important to follow all procedures and consider the international context. Our clients’ case exemplifies how proper legal support can effectively resolve issues, even if the company is located in occupied territory.
