Power of Attorney if you want to buy a property in Italy
Most of my British clients approach me because they are in the process of buying real estate in Italy. Before embarking on an incredible new experience in food-loving, sunny Italy, here a couple of tips on what you should know before getting started.
One of the first steps you have to take is to open an Italian bank account. In order to do that you may need documents such as your passport, P60, or National Insurance Number letter translated into Italian (depending on your circumstances). Another document that you need to get translated is a Power of Attorney (POA) or “Procura” in Italian, which is a written authorization legally binding to represent or act on another’s behalf in private affairs or business.
How does it work?
Your UK lawyer will draft an English POA. In effect, a Power of Attorney allows someone, a “principal” to give certain powers to someone else, an “agent” or “attorney”. The principal’s agent or attorney may then act on the principal’s behalf.
This draft is then translated into Italian by a professional Italian translator registered with the General Consulate of Italy in the UK as a certified translator.
The Italian translation is then sent to you via email and you can forward it to the Consulate or the Italian Embassy.
Once the Consulate officer edits and changes the Italian translation, making sure it is structured in compliance with their formats, you can send the amended Italian translation to the translator.
The translator then back translates the Italian amended POA into English so that you can understand what changes have been made by the Embassy or Consulate.
If you are happy with it, the translator certifies this final Italian POA translation and posts it to you.
After you received the certified Italian translation in the post, the document must be signed in the presence of a public official and or authenticated by an Apostille Certificate or Stamp, also known as the Hague Apostille. Once the document has been legalized, it means that the signature on the signature on the document is valid and the power of attorney is a public deed. Since the power of attorney is signed abroad, some local banks may require authenticating the document at a public notary in Italy.
You will then take it or send it to Italy along with any other required documents. After you have opened a bank account, you can transfer your funds to it and will be ready to purchase your dream home.
If you have any other documents that might need translation during a property acquisition, you can email it to me at email@example.com to receive a free quote.