Business Solutions - Proxies
Business Solutions - Starting a Business
2 – Proxies
When forming a business it is necessary to find a lawyer who will act on your behalf. The work can be done through a chartered accountant but he will still have a lawyer who is acting for you and a proxy will have been signed. When signing this proxy it is vital that you have it translated and explained fully BEFORE you sign it.
Make sure that the proxy only covers the things it is supposed to. If the proxy is for starting up a company it does not have to state that the lawyer has the power to dissolve the company too. If this occurs you could find yourself starting a company, paying all the costs and then finding that it has been dissolved and been started by someone else. And, there would be nothing that you could do about it. When the business transaction is complete remember to cancel the proxy so that it cannot be used in the future without your knowledge.
Unfortunately, Luxor lawyers are more famous for their dishonesty than for their honestly. This is one of the pitfalls of starting a business in Luxor. However, there is a law firm in Luxor where the work is overseen by its European owner and at least he can explain to you exactly what is happening.
