Figo and Manchester United assistant manager Carlos Queiroz are among the franchise holders of A1 Team Portugal and ex-Formula One driver Pedro Lamy will lead the outfit, chief executive Luis Vicente told a news conference on Monday.
The provisional calendar comprises 12 races, the third of which will be at Estoril in October.
The Dubai-based championship, billed as the "World Cup of motor racing", plans to start at Brands Hatch, England on September 25to fill European winter months when there is no Formula One racing.
The single-seater 3.4 litre V8 cars will be provided by A1 and run on a franchise basis by 16national teams with drivers and sponsors from that country.
The participating teams are:Australia, Brazil, Britain, Canada, China, India, Lebanon, Malaysia, Mexico, Netherlands, New Zealand, Pakistan, Portugal, South Africa, South Korea and Turkey.