Australian Rugby League Commission chair Peter V'landys approved a 20 per cent salary-cap allowance for Perth Bears players earning above $1 million in August.
The dispensation could let the club offer Matt Burton or Sam Walker about $1.8 million a season, with $300,000 from a third-party sponsor excluded from the NRL cap.
The Bears' biggest recruits so far include Nick Meaney, Tyran Wishart, Scott Sorensen, Liam Henry, Toby Sexton and Corey Horsburgh.
The 2028-entry PNG Chiefs have attracted stars including Jarome Luai, Brian To'o, Joey Manu and Alex Johnston using tax-free incentives.
Asked about competing with the Chiefs, Bears legend Billy Moore said: "Like North Sydney, there's no excuses".
General manager Gareth Holmes said the dispensation "helps".
The Bears will return to the NRL in 2027 after 28 years away, playing mostly in Western Australia.
Holmes said Burton, a Test and NSW State of Origin player, visited Perth with his family and inspected the club's facilities this week.
Holmes expects a decision soon and is confident Burton could play in the Bears' first game, with the club offering him the chance to play at six alongside former Bulldogs halves partner Sexton.
"We're really keen to have him and so over the next week or so I hope that we have a bit more news about that," Holmes said.
The Bears are also seeking to hold a trial at North Sydney Oval in late February, but Cricket NSW says relocating grade matches would cost about $200,000, payable by the club.
Discussions between the parties are continuing.