On Wednesday 18th June, King Juan Carlos will sign the act of parliament formalizing his abdication in front of 150 invited dignitaries. Felipe, then technically becomes king at midnight on Wednesday. The publication of the abdication in Thursday's edition of the official state journal formally marks the start of his reign.
On Thursday morning at 9.30 am at their Zarzuela Palace residence, Juan Carlos hands Felipe the red sash of captain general, the highest rank in the army.
At about 10:30 am, Felipe, his wife the new Queen Letizia and their daughters Leonor and Sofia then head to the centre of Madrid to the lower house of parliament, the Congress. He receives military honours outside the building.
The new royal family will then pass through the Lions Gate into the Congress, where Felipe will be sworn in. The ceremony will be attended by hundreds of Spanish deputies and senators, however Felipe's father and mother will not attend so as not to draw attention away from their son.
Felipe will take an oath to "faithfully to fulfill his duties, to safeguard the constitution and the laws, to respect the rights of citizens and the autonomous regions" of Spain. The national anthem will then be played, followed by a military parade in front of Congress.
At about 11:30 am, the new king and queen will be driven through central Madrid to the Royal Palace where they will go to the central front balcony which overlooks the park on the Plaza Oriente square to greet citizens below.
Later in the afternoon a reception will be held inside the Royal Palace for 2,000 guests, including foreign ambassadors to Spain.
In early July the new King Felipe VI and Queen Letizia are due to begin a tour of Spain and abroad.