Can an NRI grant a power of attorney to a resident of India?
An NRI is free to grant Power of Attorney to a Resident. However, such Power of Attorney is restrictive. The Power of Attorney holder can do local operations and give deposit renewal instructions. Power of Attorney Holder can not instruct to transfer funds abroad. The following conditions should be satisfied when a power of attorney is being executed outside India: The attorney should preferably be a resident of India. The power of attorney should be executed on a stamp paper/plain paper as the case may be as applicable in the country in which the power of attorney is executed. Any authorized official of the Indian Embassy/Consulate/Trade commissioner in the country where the executants resides should attest the signature of the executants. The attorney’s signature should be verified in India by Notary Public or his employer or his banker on a separate piece of paper, which should be submitted to SHFL together with the power of attorney.
