Motorsport's world ruling body FIA has publicly called for a new Formula One team for the 2015 or 2016 season and until at least 2020.
In an internet statement on Wednesday night, FIA said it was opening a new selection process to identify a "candidate team to participate at a competitive level" in Formula One.
There are 11 teams on the circuit while F1 rules allow for up to 13.
"The overall long-term interests of the championship will determine which candidates are selected," read the statement.
Candidates must formally express their interest to FIA by January 3.
Formula One last accepted three new teams for the 2010 season. HRT had to shut down last season due to financial problems, while Marussia and Caterham have not collected a single world championship point in 77 races.
F1 officials hope to attract a team from the United States. The USF1 project shut down just before the 2010 season.
