A power of attorney is a legal document that gives someone authorisation to act on behalf of the business. Typically, the authorisation document carefully details the transactions and processes for which the person is being granted power of attorney, rather than giving a general mandate that would allow the agent to act completely freely.

A power of attorney provides legal authority for a person acting as an agent. For a business, this authority can encompass the ability to access financial accounts, sell securities or place new orders and write cheques, although the agent may also perform a range of other activities to keep the business running. For security reasons, a POA document should strictly limit the agent's activities or access to specific accounts.

Powers of attorney can be used effectively in the normal course of business, or only under certain circumstances - for example, when the owner of the business is incapable of making decisions or unable to access the business accounts.

Advantages & disadvantages of POA authorisation
The main advantage of a power of attorney for a business bank account is that it gives you the security of a back-up plan in case the owner of the business or other authorised persons are unable to fulfil their tasks. Authorising an agent to act on its behalf prepares the business for any unexpected situation and enables essential business decisions to be made in a timely manner. If the owner of the business has not granted legal authorisation to anyone, there is always a risk that at some point he or she will not be able to make important business decisions or carry out essential transactions, which can lead to huge damage to the business and its reputation. Not having an appointed authorised agent can result in salaries not being paid on time, business loans or mortgages not being serviced, third-party suppliers not being paid and potential contracts being lost.

The advantage of being able to authorise someone to act on behalf of the account holder goes hand in hand with the need to be certain you can trust the appointed agent with access to your business account. Therefore, you would be firmly advised to think carefully before granting someone a POA and providing him or her with bank account access and the ability to make important business decisions. The person you designate as the agent will have unmonitored access to the company's funds, which could potentially increase security risks if the appointed person acts in any interests other than those of the business.

Some business people find that virtual offices are an easy and inexpensive way to go global. Others feel that it offers the ability to maintain the most important thing required for successful e-commerce and marketing today - a business presence that can be established in any market.

According to Wikipedia and Investopedia, the virtual office offers address and communication services for a fee without providing dedicated office space as it is a business location that only exists in cyberspace and allows employees and business owners to work from anywhere using technological means to work – personal computer, laptop, notebook or tablet.

Benefits of using a virtual office
A full application of a virtual office term can include live professional communication. This means that all business appointments can be conducted online via telephone and video conference. Business documents can be shared, signed and sent electronically. There are some significant benefits of doing business in cyberspace.

Most important might be the fact that if the company has several or more employees, each of them can do their work from the place that is most convenient for him or her, while having the right to their own lifestyle, sleeping and resting Habits and other requirements, which can be individually adapted, are preserved. This means the company is not limited to hiring by expanding employee employment opportunities and corporate hiring opportunities.

This way of transacting and arranging business is creating new professional fields as professional as remote receptionists who can use high tech computer phone integration software to communicate with customers, virtual assistants who don't have to meet their customers in person and assist them instead virtual and other members of the virtual team.

Virtual teams can offer services such as answering machines and call centers operating from a central location to receive and transmit large numbers of inquiries over the phone, voicemail, which is basically a low-cost technology service that stores voice messages electronically , Voicemail messages can also be converted to e-mail letters to ensure high virtual mobility, virtual office space, ensuring a chance to own a high-profile, respected address in a city of the employee's choice, telephone answering service providing the Gap between the employee and bridges his or her customers.

In general, the creation of virtual offices aims to increase and increase efficiency while combining home and work together. It saves money, increases mobility and allows for cost-effective expansion without long-term commitments, keeping office costs to a minimum.

Disadvantages of using a virtual office
The other side of a virtual office is that it lacks centralization, which creates difficulties when daily work meetings and appointments are reduced. Employees have to be very proactive here in order to maintain the existing structure. The lack of interaction can also increase when there is no planned everyday communication. These are the interactions that come with a traditional work environment, like lunch breaks and conversations with coworkers about work, life, and relationships. When working remotely, communication in general can also be difficult.

The lack of a face-to-face meeting increases the likelihood of misunderstandings and misinterpretations, since in this case words sent via email or written can lack the non-verbal cues and tone of voice that could make it easier to understand what the person said and how he said it or she feels.

There is also a lack of opportunities to plan and schedule meetings, for example to meet a client at short notice, as it is not possible to arrange meetings in a specific location called an office space or office building.

A shelf company, also known as a read-made company, is commonly used in connection with corporate transactions. Shelf companies are founded by service providers, but there is no operational activity in these companies. Instead, once trained, they are nurtured and kept on the shelf until an opportunity to sell them arises. In this case, service providers can guarantee that no operational activity has taken place in the company and therefore there is no debt or other liability that could be transferred to the new owner.

Meanwhile, there are also such companies that were formed some time ago with the general aim of operating and making a profit, but have ceased operations for some reason. While normally companies would cease to exist, service providers buy the previously active companies and keep them until a potential investor shows up. Because these companies have had a specific operating activity, it is important to ensure that they have no debt or other liabilities. As a rule, quality service providers give their guarantee that you are acquiring a debt-free company. Still, it would make sense to do your own due diligence to be absolutely sure you're buying a clean company.

Business in Malta
If you are looking for the right place to buy a shelf company and start a business, Malta might just be the place for you. Malta is a well-developed Mediterranean country between Europe and Africa. In addition to the advantageous geographic location and pleasant weather conditions all year round, Malta manages to attract foreign investors due to its business environment and tax system. Thanks to Malta's tax system, it is considered a tax haven.

Malta's tax system offers numerous advantages to companies. For example, Malta has signed double tax treaties with over 70 countries, ensuring that companies do not have to pay tax in their country of residence on profits generated in Malta. Even if a holding company has to pay the full corporate tax rate of 35%, the amount payable is usually greatly reduced - shareholders can claim a refund of up to 6/7ths of the dividend tax.

Shelf company in Malta
There are several advantages to acquiring a shelf company rather than forming a new one. The main benefit is the ability to run a business that already has some history. Very often, newly formed companies are not considered serious, so potential partners and customers might decide to give preference to older companies. For this reason, the price of a shelf company is determined by its age: Older the company - higher the price.

Another benefit of acquiring a shelf company is generally the relatively shorter process time compared to forming a new company. Meanwhile, this advantage does not work as well in Malta as in other countries. This is due to the short incorporation time of companies in Malta - it can take as little as 24 hours to incorporate a new company (the same time it takes to acquire a shelf company).

Whilst shelf companies tend to take a back seat in Malta, you can acquire companies in a variety of legal forms - from partnerships to limited liability companies and corporations. Maltese companies can be managed both from Malta and from abroad.

Process to acquire a shelf company in Malta
The process of acquiring a shelf company in Malta is relatively quick and easy. Once you have decided to purchase a shelf company in Malta, you can usually search for a service provider online. Although there are numerous service providers, you should take the time to find the one that best suits your needs. Some of the characteristics to consider are the costs, the valuations and reputation of the service provider, the legal structure of the shelf companies offered, and additional services and other benefits offered to support the shelf company's acquisition and continued operation.

When you have decided from which service provider you would like to acquire a shelf company, you can choose one of the offered companies, depending on its age, price, legal structure and whether or not there has been some operation activity taking place in this company. Nowadays, most of the service providers provide a list of available companies on their webpage. Maltese ready-made companies are sold with an incorporation certificate, articles of association, memorandum, a registered address and a VAT number.

The key aspect of acquiring a shelf company is the transfer of shares from the old owner to the new one. All documents and the process is organized by the service provider and you will have to simply sign the agreement of share transfer. Additionally, if you wish, you can modify the company’s name and address as well as appoint a new director right after the share transfer is finished.

It should be taken into account that authorities may require a proof of previous activities in order to allow for a shelf company to function in Malta. Also, in some cases depending on the activities carried out, special licenses may be required before any business activity is started.

The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in almost all of the world'

India's economy is the third largest in the world in terms of purchasing power parity and the sixth largest in terms of nominal GDP. India is also one of the major G20 economies, with an average growth rate of around 7% over the past two decades. In the final quarter of 2014, it became the fastest growing major economy in the world, outperforming the People's Republic of China. Although the two countries showed very similar growth rates in 2016, it is forecast that China's growth will slow down, but that the Indian economy will grow again to 7.2% in 2017. According to a PWC report The World in 2050, India's nominal GDP could surpass that of the United States by 2040. The report also predicts India's GDP will double to $ 5 trillion by 2025.

There are several main reasons for India's positive long-term growth prospects, including the relatively young population (with a correspondingly low nursing care rate), healthy investment and savings rates, and increasing integration into the global economy. The Indian economy is believed to become the third largest over the next decade and one of the two largest by the middle of the century.

Another reason why India's economy has grown faster than that of other countries is likely to be the rise in government investments, which incidentally also play an important role in the world's second fastest growing economy - China. Meanwhile, slow-growing Western countries rely mostly on private rather than government investment.

India's service sector is one of the fastest growing in the world, growing 9% every year since 2001. India has become a major exporter of business process outsourcing (BPO) services, software and IT services - the latter are the country's largest private employers. India also has the fastest growing number of internet users in the world, which shows the huge potential of e-commerce in India. Flipkart and Amazon are the best examples of ecommerce success in India. India is also the third largest start-up hub in the world, with more than 3,100 tech start-ups in 2014-2015.

With the diversification and growth of the Indian economy, the contribution of agriculture to the country's GDP has been steadily declining since 1951, but it still plays a significant role in the country's socio-economic development and is one of the largest sources of employment. India currently ranks second in the world in terms of agricultural production.

Foreign direct investment is currently an important engine of economic development in India. Foreign companies are investing in fast growing private companies to benefit from lower wages and an emerging business environment. India is extremely attractive to foreign investors. In fact, in the first half of 2015, it surpassed the US and China as top foreign direct investment destinations, attracting $ 31 billion, compared to $ 27 billion in the US and $ 28 billion in China.

Among other things, the service sector has been attracting a large proportion of foreign direct investment since 2011. The service sector includes finance, banking, insurance, non-financial business services, outsourcing, research and development, courier services, and technology testing and analysis. In fiscal 2014-15, the service sector attracted $ 3.25 billion, which is 17% of total FDI.

The service sector is followed by construction development (new settlements, residential construction, urban development and infrastructure) with 2.89 billion USD with 2.20 billion USD in FDI in the same period.