Sevco Scotland Ltd have been granted conditional membership of the Scottish FA to enable Rangers' game against Brechin City in the Ramsdens Cup on Sunday to go ahead.
Rangers' financial plight has seen the Old Firm giants demoted to the Scottish Third Division from the SPL, and the club had been waiting for the green light to start the 2012/13 season.
An agreement has now been reached on all outstanding matters relating to the transfer of Scottish FA membership and Rangers will be able to start a new era this weekend.
Charles Green, chief executive of The Rangers Football Club, said: "The agreement signed today allows Rangers to be granted membership by the SFA and finally enables the club to move forward.
"The board, the manager and senior executives have been working tirelessly over the last few weeks to secure the future of the club and today is the start of that process.
"The board has had to take some very difficult decisions to gain SFA membership, including accepting the delayed transfer ban and paying outstanding financial penalties. But we are now able to get back to playing football and plan for the new season, starting this Sunday with our match against Brechin.
"There remains, however, an outstanding issue with the SPL regarding EBTs. As we have proved in the last couple of months we will stand up to any challenges that face Rangers and will continue to fight for the club's best interests."
An SFL, SFA and Scottish Premier League statement read: "We are pleased to confirm that agreement has been reached on all outstanding points relating to the transfer of the Scottish FA membership between Rangers FC (In Administration), and Sevco Scotland Ltd, who will be the new owners of The Rangers Football Club.
"A conditional membership will be issued to Sevco Scotland Ltd today, allowing Sunday's Ramsdens Cup tie against Brechin City to go ahead.
"Following the completion of all legal documentation, the Scottish Premier League will conduct the formal transfer of the league share between RFC (IA) and Dundee FC on no later than Friday 3rd August 2012.
"At this point, the transfer of Scottish FA membership will be complete."