Prince Harry and Meghan Markle are relinquishing their "royal highness" titles and will no longer be "working members of the Royal Family," Buckingham Palace revealed on Saturday.
In addition, they will not receive public funds and will even return the 2.4 million pounds (€2.82 million, $3.1 million) in taxpayers' money the couple were afforded to spend on renovating their home near Windsor Castle.
Harry and Meghan had grown increasingly disenchanted with public life and announced their decision to take on a more independent life as a family earlier this month.
As of the spring, the pair will cease to be working members of the royal family and will be known as the Duke and Duchess of Sussex. Despite the upheaval, Harry will remain a prince and still be sixth in line to the throne.
They want to break free
The couple's departure from royal duties has divided opinion among the British public but Queen Elizabeth II said in a statement on Saturday she was happy that "together we have found a constructive and supportive way forward for my grandson and his family. Harry, Meghan and Archie will always be much-loved members of my family.''
"I recognize the challenges they have experienced as a result of intense scrutiny over the last two years and support their wish for a more independent life," the Queen said.
"It is my whole family's hope that today's agreement allows them to start building a happy and peaceful new life," she added.
Harry and Meghan previously announced they wanted to step down as senior royals and live part-time in Canada.
The Palace did not reveal who will pay for the couple's future security which is currently paid for by the UK taxpayer.