Prince Harry and Meghan Markle planning to set up home in Los Angeles

Harry and Meghan are set to trade in their palaces for palm trees.

The royal couple is planning to set up a new home in the Duchess of Sussex’s glittery old stomping grounds of Los Angeles, along with one in the Commonwealth country of Canada, according to multiple sources.

“Meghan is, at heart, an LA girl, she cares about money, power and prestige,” a highly placed source told the Post.

The pair, who on Wednesday said they would no longer live their lives as senior royals, will have Canada as their base, but will spend a lot of time in Southern California, near Meghan’s mom, Doria.

“Meghan really wants to live in California, it’s where she is from and where her mother lives,” another source close to the couple said.

“She likes the lifestyle and the privacy there. She has been getting advice on the move from close friends, including Oprah and the Clooneys, and they have encouraged her that she and Harry can step away from the royal family and follow their own path.”

The first source said that LA can be a place where Meghan can continue to shine on a global stage, even as they forsake the London upper crust.

“I don’t think she quite got the reception she wanted in the UK, to say the very least. When she was an actress, she was all about money — she made deals on her blog ‘The Tig’, she made deals with the clothing she wore — she’d get paid for wearing a T-shirt and brag about it — all sorts,” the source said.

“Although she wants to be near her mom Doria, she wants to set herself up for the future, and Harry is being dragged along for the ride.”

However, it’s yet to be worked out who precisely will provide their security as they are watched over by British police officers, paid for by British taxpayers and the bill could spiral into millions when they travel abroad.

“What happens if they decide to give back their HRH titles?” the first source said. “They’ll be no automatic security provided for them — they’ll have to look at Hollywood-style security firms, who use ex-Mossad officers and have to pay for that on their own dime.”

Sources also point out that it’s noteworthy that the publicist the Sussexes hired to work on their Sussex Royal Foundation, Keleigh Thomas Morgan, from the PR firm Sunshine Sachs, is based in LA.

The Duke and Duchess were based in Canada for six weeks over the holidays.

Music producer David Foster, married to Meghan’s old school pal Katherine McPhee, said he connected them to the owner of the $14 million mansion where they stayed on Vancouver Island.

“I felt honored that I was able to help Meghan there, because I’m a Canadian and we’re a Commonwealth country, we’re the Crown’s,” Foster told the Daily Mail last month: “It’s important to us, so I grew up with that kind of sentiment.”