A Power of Attorney (PoA) is a legal document that allows one person (the agent or representative) to act on behalf of another person or group (the principal). In the context of opening an account for an entity with multiple Ultimate Beneficial Owners (UBOs), the PoA grants one individual the authority to manage specific tasks—such as opening and managing the account—on behalf of all UBOs.
How to fill in a PoA
The PoA should be filled in by every UBO, which is to say: by every person who controls more than 25% of the entity. When completing a PoA, the following fields must be filled in:
Personal identification
Details of the UBO(s), including the following fields:
Full name
Date of birth
Place of birth
Details of the entity
Contains details to identify the entity for which the PoA is issued, including the following fields:
Full name of the entity
Unique identification number (KVK number)
Details of the person receiving the power of attorney
This includes the following personal information:
Full name
Date of birth
Place of birth
Function in the entity
Providing a PoA
If you are asked to provide a PoA, you can find a form here. This form can be completed and submitted to the document upload portal that is available in the web app. Please note that it must be returned along with a colour copy of the ID (passport or EU ID card) of the persons granting the authorisation.
Why is it necessary?
The PoA grants one UBO the authority to manage their GoDutch account. This streamlines the process, allowing for quicker, more efficient account setup and management. Furthermore, for legal and regulatory purposes, we need to ensure that you have the proper authority to act on behalf of the other UBOs.