With the approval of the 2020 World Championship regulations, the bidding procedure to host this event is now open. Any federation member of FIDE, or any organizer approved by a national federation, is eligible to bid.
These are some of the basic requirements:
-- Each application should be backed by letters of support from a national federation and relevant local authorities.
-- It should contain all the basic information, such as proposed exact dates of the event, proposed venue, and prize fund.
-- Applicants should pay a non-refundable fee of three thousand euros, and extend an invitation for two members of the Global Strategy Commission to inspect the proposed venue and examine other conditions. This fee will be used to cover the hotel and travel expenses derived from this inspection.
-- Bidders must provide a guarantee issued by a first-class bank for the amount of three hundred thousand (300,000) euros to support the bid.
While very important, the proposed prize fund will not be the only criterium to decide who will host the event. FIDE's choice will take into consideration many other factors, aiming for the best interest of chess. The organizer's experience in holding top events, the location and prominence of the playing venue, and the organizer's plans to promote the event (like media facilities, proposed side events...) will also be key factors to make the decision.
The complete details about the procedure can be found under point 5. "Selection of the organizer" (page 6) of the World Championship regulations. You can download them on this link.
The applications must be sent to firstname.lastname@example.org. The deadline to bid is July 25, 2019, at 23:59 CET.