A country that decides to join FLAR submits a membership application to the Executive Presidency, signed by the President / Governor of its central bank.

The incorporation of a new member must be approved by the Assembly of Representatives following the qualification by the Board of Directors regarding the category of the economic dimension of the requesting country.

After this approval, the country may attend the meetings of FLAR’s Administration Bodies as an observer.

The new member country must approve, by law, FLAR’s Constitutive Agreement. The deposit of the accession law must be made before the Central Bank (Banco de la República) of Colombia.

Upon complying with the above requirements, the central bank of the new member country shall proceed with the corresponding paid-in capital contribution and may then gain access FLAR’s lines of credit and services.

For a country considered to be of a "large economic dimension", the minimum capital it must contribute to FLAR to be entitled to one vote and one chair, both in the Assembly of Representatives as in the Board of Directors, amounts to US$ 250,000,000 plus one payment destined to FLAR’s institutional reserves, equivalent to the percentage of the capital paid by the other member countries at the time of the contribution, represented by these reserves.

For a country considered to have a "small economic dimension", the minimum capital it must contribute to FLAR to be entitled to one vote and one chair, both in the Assembly of Representatives as in the Board of Directors, amounts to US$ 125,000,000 plus one payment destined to FLAR’s institutional reserves, equivalent to the percentage of the capital paid by the other member countries at the time of the contribution, represented by these reserves.

Contributions may be less than the minimum capital referred to above, without a voting right or a chair. In these cases, the new member may temporarily adhere to any of the chairs representing FLAR’s full members.