New FIDE rules

Registrations, Transfers and Rules of Eligibility for Participation in FIDE Competitions

1. Registration under a Federation
1.1 A player may only be registered under one Federation at any one time.
1.2 A player who has dual citizenship must be registered under and only represent one Federation.
1.3 A player qualifies to be registered under a Federation:
(a) if he or she is qualified by citizenship or naturalization in the country of that Federation; or
(b) if he or she has resided for a continuous period of two years in a country of which he or she is not a citizen and, after thorough examination and clearance by the FIDE General Secretary, is approved for registration under the new Federation of his or her country of residence. This two- year period of residence shall be reduced to one year if the player has not participated in any FIDE competition (including continental individual and team events) for at least 5 consecutive years prior to the date of registration.
(c) if FIDE has approved his or her transfer.

2. Transfers between the Federations
2.1 A player who wishes to change his Federation and register under a new Federation must apply through the new Federation to FIDE for a transfer. A notification fee of €250 is payable for all transfers.
2.2 Consent and Compensation Fee from New Federation
2.2.1 A player who qualifies to be registered under a new Federation may at any time transfer from one Federation to another Federation with the consent of the new Federation to which he wishes to transfer.
2.2.2 Provided the player does not have a continuous period of residence of two years, such consent shall be accompanied with a payment from the new Federation to the old Federation of a compensation fee (“Compensation Fee”) according to the following scale:

FIDE Title/Rating Amount of Compensation Fee Payable

GM rated 2700 and above € 50,000
GM rated 2600 to 2699 € 30,000
GM rated below 2600 € 10,000
IM rated above 2400 € 6,000
IM rated 2400 or below € 4,000
FM or rated above 2300 € 2,000
Women players rated above 2600 € 50,000
Women players rated above 2500 € 20,000
Women players rated above 2400 € 10,000
Women players rated above 2300 € 5,000
Women players rated above 2200 € 2,000
WFM or rated above 2100 € 1,000

The rating of the player shall be that as published on the last FIDE Rating List before the date of receipt by the FIDE Secretariat of notification of change of Federation.
2.2.3 The old Federation may at any time elect in writing addressed to FIDE and the new Federation to waive all or any part of any Compensation Fee(s) due to it from the new Federation.
2.3 All transfers shall be the responsibility of the new Federation and must be submitted to the FIDE Secretariat on the prescribed form in Annex A (“Notification of Change of Federation”), together with the relevant:
(a) supporting documentary evidence of date and place of birth, citizenship and residence;
(b) Notification Fee of €250;
(c) Compensation Fee payable to the new Federation; and
(d) Transfer Fee payable, if any.
2.4 Upon receipt of a Notification of Change of Federation that is in satisfactory compliance with 2.2 above, FIDE shall inform the old Federation and publish such notification on the FIDE website. If no objection is received in writing by FIDE within three months from the date of publication on its website, the notification of change of Federation shall be deemed approved.
2.5 Transfers with Payment of Transfer Fees
A Federation may apply to FIDE to transfer a player before the stated period of residency in 1.3 if that player provides supporting evidence together with payment of a transfer fee (“Transfer Fee”) according to the following scale:

FIDE Title/Rating Residence in new Federation for a period between 0 to 12 months 13 to 24 months

GM € 5,000 € 3,500
IM € 2,000 € 1,500
FM or rated above 2300 € 1,000 € 750
WGM € 2,000 € 1,500
WIM € 1,000 € 750
WFM or rated above 2100 € 500 € 300
Others € 500 € 300

The rating of the player shall be that as published on the last FIDE Rating List before the date of receipt by the FIDE Secretariat of notification of change of Federation.
2.6 The date of commencement of any period of residence shall be the day after the date of receipt by the FIDE Secretariat of notification of change of Federation.
2.7 Any protest submitted to the FIDE Secretariat regarding transfers must be accompanied with a protest fee of €500, which shall be refundable, if the protest is upheld. The Presidential Board shall decide upon all protests.
3. Entries and Eligibility for Participation in Official FIDE Competitions
3.1 The rules in this section on entries for participation in official FIDE competitions and the eligibility of players to represent a Federation shall apply to all official FIDE competitions at world level, including all Continental events that are qualifying competitions for World events.
3.2 Entries
3.2.1 All entries for participation in official FIDE individual and team competitions shall be made by the respective Federations only.
3.2.2 Players with personal right of entry (such as FIDE rating or qualification from another event) or nominees (such as by the President or Organiser) may, in the absence of an entry by the Federation, enter himself directly into such competition, provided that the player shall be personally liable for any financial obligations to FIDE in respect of such entry.
3.3 Eligibility
3.3.1 A player is eligible to participate in official FIDE competitions and qualifies to represent a Federation at any time only if he or she is registered under that Federation.

Here is the link to the complete new FIDE rules.