Malaysia clears the way for foreign law firms
Malaysia has cleared the way for foreign law firms to practice in the country, passing the Legal Profession Act (amendment) 2012 Bill in a bid to push Malaysia as an Islamic financial hub.
The legislation empowers the Bar Council to grant licences (subject to the Attorney-General’s approval) to foreign firms that wish to establish offices in Malaysia. The rules require the senior partner of the relevant firm to remain in Malaysia for at least 182 days per year, to ensure the exchange of expertise between foreign and local lawyers.
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