Up to five international law firms could secure licences to enter the country later this year as Qualified Foreign Law Firms (QFLF) should the Legal Profession Amendment Act 2012 become law by summer as planned. According to the Malaysian Bar Council, successful firms will need to demonstrate international Islamic finance capacity in order to qualify for the QFLF licence, which will be valid for three years initially and will allow them to set up their own offices practicing in specific areas, excluding those such as family law and local litigation.
February 28, 2013 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Malaysia is gearing up to open its legal market to international law firms, with new legislation set to come into effect this summer.
Up to five international law firms could secure licences to enter the country later this year as Qualified Foreign Law Firms (QFLF) should the Legal Profession Amendment Act 2012 become law by summer as planned.
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