FICIL invites applications from companies and business associations. We appreciate you giving this matter your careful consideration and we will give full consideration to your nominations.
New members are selected by the vote of existing members of the Council after considering the recommendation from the Executive Board. When admitting corporate members, the Council follows the principle that the Council’s corporate membership shall, as much as possible, broadly represent the foreign direct investment in Latvia by its countries of origin and industries.
Upon examining membership application, the FICIL Executive Board reserves the right to reject any applicant who’s current or past activities, in its judgement, in any way bring discredit or disrepute to FICIL’s reputation. examining membership application, the FICIL Executive Board reserves the right to reject any applicant who’s current or past activities, in its judgement, in any way bring discredit or disrepute to FICIL’s reputation.
To be considered for membership a company should:
- Be a legal entity of good standing, not involved in any activities considered detrimental by the FICIL Executive Board.
- Have invested at least EUR 1 000 000 in Latvia or provide professional services billed annually at EUR 1 000 000 within Latvia.
- Have at least 25 % of fixed capital owned by foreign entity(ies) or individual(s).
- Not be a monopoly, or more than 50% owned by Latvian national or municipal government.
- Have active operations in Latvia.
- Observe transparency and good corporate governance in its operations.
- Commit to active participation by its senior management in FICIL’s work.
To be considered for membership, the prospective associated members should be duly organized non-government business associations representing significant international investment groups in Latvia. The FICIL’s associated members are entitled to exercise the same rights as members.
Expected Contribution to FICIL’s Work
The senior management stationed in Latvia is expected to participate in General Meetings and the key staff should be assigned to specialised FICIL committees working with the Latvian Government on a range of business environment issues. The working language is English and translators are not provided.