Anyone having an account opened by power of attorney does not have to be on site themselves. Instead, a representative acts in their name at the bank. For this to work internationally, a cleanly drafted, notarised and apostilled power of attorney is needed. This article explains the procedure from start to finish – clearly and without legal gibberish.
What does "opening an account by power of attorney" mean?
Opening an account by power of attorney means: you authorise another person to carry out all actions needed for the account opening at the bank in your name. You yourself remain the holder of the account; the representative merely acts on your behalf for the opening. This principle has long been established in international business and forms the basis of every remote account opening.
In the case of Bank of Georgia, you authorise us to open the SOLO account for you on site in Tbilisi. A personal trip thereby falls away entirely. The whole appeal of opening an account by power of attorney lies precisely in this relief: the effort stays with us, the account belongs to you.
The three building blocks of an effective power of attorney
So that you can open an account by power of attorney, the power of attorney must meet three requirements. It must be appropriately worded in content – you receive the template from us. It must be notarised, so that your signature is established beyond doubt. And it must be provided with an apostille, which confirms the authenticity of the notarisation for use abroad.
| Building block | Purpose | Who does it |
|---|---|---|
| Power-of-attorney text | appropriate content | template by CMC |
| Notarisation | authenticity of the signature | notary in your home country |
| Apostille | international recognition | competent authority |
Do the notarisation and apostille in one go where possible. Anyone who lets weeks pass between the two steps loses exactly the time they wanted to save when opening an account by power of attorney.
Step by step to the account
The process to open an account by power of attorney follows five clear stages. First, the order by signing the offer. Second, the preparation of the power of attorney including notarisation and apostille. Third, the opening of the account by us on site. Fourth, the shipping of the cards and documents by courier. Fifth, the activation of online banking, with which the account is ready to use.
Security: what the power of attorney covers – and what not
A legitimate question is: do I give up control with the power of attorney? The answer is no. The power of attorney with which you open an account by power of attorney is tailored to the purpose of the opening. It authorises us to open and set up the account for you – not to dispose of your money permanently. As soon as online banking is active, control lies entirely with you.
Read the power-of-attorney template calmly before you sign it. A good power of attorney is narrowly drawn and transparent – that is precisely the standard for opening an account by power of attorney.
When the power-of-attorney route is particularly worthwhile
Opening an account by power of attorney always makes sense when a personal trip would be disproportionate: with a full calendar, with no fixed residence or simply when you see no point in flying for an account opening. For people who shy away from the local language barrier too, the power-of-attorney route is the more relaxed solution, because we handle all bank communication in English.
At the end there is a fully functional account without you having had to set foot on Georgian soil. That is exactly the strength of the procedure: opening an account by power of attorney shifts the effort to where the local knowledge sits and leaves you the benefit.
Trust and seriousness in remote opening
Anyone having an account opened by power of attorney gives a third party a clearly defined mandate. Understandably, the question of trust arises. Seriousness shows in several points: in a narrowly drawn, transparent power of attorney, in a clear division of tasks and in the honesty with which the profile is assessed beforehand. CMC has been on site in Tbilisi for nine years, accompanying clients personally with the account opening; the actual banking relationship arises between you and the bank, not between you and an intermediary.
A healthy benchmark: a good power of attorney authorises only what is needed for the opening and effectively ends where your own access begins. Anyone wishing to open an account by power of attorney should pay close attention to this limitation – it is the best sign of a clean process.
What happens to the power of attorney after opening
A common question is: does the power of attorney remain in force forever? In practice it fulfils its purpose with the successful opening and set-up of the account. After that you control everything yourself via online banking. The power of attorney was a means to an end, not a permanent say. That is precisely why it is so important, when opening an account by power of attorney, to understand from the start what the power of attorney applies to and what it does not.
Just as important is the time limit: the power of attorney is restricted from the outset to 60 to 90 days and then expires automatically. It exists solely for the one-off opening, not for any lasting representation. Even in the unlikely event of misuse it would be worthless once this period has elapsed – a narrow purpose combined with a short, clearly defined window.
Keep a copy of the signed power of attorney for your records. This way you can always trace what you specifically authorised when opening an account by power of attorney.
The process step by step
Anyone wishing to open an account by power of attorney goes through a clearly structured process that has proven itself in practice. At the start is the individual profile review: we assess openly whether the opening is promising in the specific case. We then provide the template for the power of attorney, which you have notarised and apostilled in your home country. Only after that does the representative act on site at the bank.
| Phase | Who acts | Result |
|---|---|---|
| Profile review | CMC & you | realistic assessment |
| Power of attorney | you (notary + apostille) | legally sound document |
| Opening on site | representative | SOLO account created |
| Handover | CMC to you | your own online access |
The decisive point: once you have opened an account by power of attorney and your own access is set up, the practical role of the power of attorney ends. You then control your account independently. This clean handover is the actual hallmark of a remote opening.
The final decision on opening the account is always made by the bank. A carefully prepared power of attorney increases the prospects of success but is no guarantee – that is part of an honest presentation.
Frequently asked questions about Opening an account by power of attorney
How long is the power of attorney valid?
The power of attorney is limited to 60 to 90 days and expires automatically afterwards. It is tailored solely to the account opening and grants no permanent disposal; once the period elapses it has no effect.
Do I lose control over my money through the power of attorney?
No. The power of attorney is tailored to the account opening and set-up. It does not authorise permanent disposal of your balance. After activation of online banking, control lies entirely with you.
Why does the power of attorney need an apostille?
The apostille confirms the authenticity of the notarisation for use abroad. Without it, the power of attorney would usually not be recognised in Georgia.
Who issues the apostille?
The apostille is issued by the competent authority in your country. Which one depends on the respective country; often it is courts or administrative authorities.
Do I receive a template for the power of attorney?
Yes. You receive a suitable template from CMC, which you have notarised and then apostilled.