Updated On: 21 February, 2020 10:03 AM IST | London | Agencies
The deal, which now comes into effect from April 1, means the couple will no longer be representing the Queen in an official capacity. The couple has been in Canada with their nine-month-old son Archie since the agreement.

Prince Harry and Meghan Markle
London: Prince Harry and Meghan Markle have announced that they will formally exit as Britain's frontline royals on March 31 following discussions with Buckingham Palace on formalising their new financially independent roles. Harry and Meghan, the Duke and Duchess of Sussex, will no longer have an office at Buckingham Palace in London as they stop carrying out formal royal duties for Queen Elizabeth II from April 1, with the formal arrangements of the split to be assessed after 12 months.
"The Duke and Duchess of Sussex will formally step down as senior royals from March 31," a spokesperson for the couple said on Wednesday. Harry, 35, will retain his military ranks of Major, Lieutenant Commander and Squadron Leader and will not use his honorary military positions or perform any official duties associated with these roles. The couple will retain their His and Her Royal Highness (HRH) titles but would not be permitted to use them. The use of the word "Royal" as part of their Sussex Royal brand is reportedly still under discussion with palace officials.