July 20, 2015 Alok Gupta Sale & Transfer of Investment Securities, Sale of Investment Securities, Transfer of Investment Securities

Power of Attorney Case in Hong Kong

Recently, we had a case where an Executor was acting under a standard general UK Power of Attorney and the Hong Kong Probate Registry took the view that it was ineffective to cover the reseal and transfer of the shares in Hong Kong. A new Power of Attorney had to be executed.

In order to avoid this problem, if you know that your client has Hong Kong assets, please make sure that any Power of Attorney includes the power to apply for Grant of Probate and/or reseal in Hong Kong, and the power to subsequently sell the shares.

Read more about the Grant of Probate here.