The World Motor Sport council allowed the name change at a meeting Wednesday.
The team, based in Silverstone, England, was bought by Indian businessman Vijay Mallya and Dutch entrepreneur Michiel Mol earlier this month.
Mallya and Mol are the third owners in two years for the former Jordan team. The Midland group took over in 2005, before selling to Spyker in September 2006.
Adrian Sutil was the most successful driver for Spyker this season with one point for the team to finish last in the constructors' championship.
The other Spyker drivers - Sakon Yamamoto, Christian Albers and Markus Winkelhock - finished in the final three places in the standings. Albers was fired in July because of commercial difficulties. He was first replaced by Albers, then Yamamoto.
Russian Finance Minister Anton Siluanov announced a possible move that Russia can take in response to new US sanctions
Not that long ago, American soldiers would train their skills to counter insurgent and partisan military organizations. These days, they are trained to show resistance to the regular army of a potential adversary
The Central Bank of Turkey announced measures to protect the financial market of Turkey against the background of the collapse of the Turkish lira and conflict of interests with the United States of America