(CNN) – Prince Harry and Meghan Markle have set a date for their transition from royalty.

The Duke and Duchess of Sussex have set March 31 as the date for the 12-month transition period to begin.

They are closing their Buckingham Palace office.

Prince Harry will keep his honorary military titles, the ranks of major, lieutenant, commander, and squadron leader.

But he won’t be using them or undertaking the duties associated with them during the one-year period.

The use of the word “royal” by Prince Harry and his wife Meghan for their new venture is being reviewed, according to a palace source.

Discussions are still underway but the likely direction is that the term will not be a part of the Sussex’s branding.

While the couple will be spending a lot of time in Canada, they are planning to be in the United Kingdom regularly.

Latest Stories: