The Sussex Royal charity has officially closed down. Prince Harry and Meghan Markle have filed paperwork to dissolve their charity.

"Paperwork has been filed with Companies House and the Charity Commission to formally close the charity [Sussex Royal] down," a source confirmed to Harper's Bazaar.

When Prince Harry and Meghan Markle officially stepped down as senior members of the British royal family in March, they agreed not to use the 'Sussex Royal' branding anywhere. As per the source, "the charity formally enters a period of 'solvent liquidation'".

After Harry and Meghan moved to Los Angeles from Canada before the borders of the countries closed due to the coronavirus, it was revealed that they plan to start their new organisation, Archewell. Now the Sussex Royal is being closed down through official procedure.

"During this period all Trustees will step down from their roles, except for The Duke of Sussex who will formally remain as a Director and Trustee until the liquidation process is complete. The Duke and Duchess remain incredibly grateful for the support and guidance the Trustees have given during this period," an insider said.

The source added: "The sole programme in operation and development at the charity has been the sustainable travel and tourism initiative, Travalyst. Travalyst is now operating as an independent non-profit based in the UK, and all assets from Sussex Royal will transfer over."

Harry and Meghan will now use Harry's Travalyst to help tourism recover from the coronavirus pandemic.It will help communities that rely on tourism rebuild and recover in ways that support their long-term sustainability and resilience.

The non-profit initiative was launched by the British prince in September and now "all assets from Sussex Royal" are being transferred over.

More information about Harry and Meghan's project will be revealed in the coming months.

Prince Harry and Meghan Markle
Canada will no longer pay the security costs for Britain's Prince Harry and his wife Meghan in the country, where they have been living part time since pulling back from their royal duties. Photo: POOL / TOBY MELVILLE

The couple is now living along with their one-year-old son Archie in Tyler Perry's mansion in Beverly Hills.