The GTC is a 10.4m telescope being built in La Palma, Spain, by a consortium lead by the Instituto de Astrofisica de Canarias (IAC). Other members of the collaboration include Mexico and the University of Florida (US). The telescope is now complete, the main activity currently being the installation of the control system. This will lead to the start of a testing period for the motion of the main telescope axes, after which the first primary mirror segments will be installed on the mirror cell. We expect this to happen by October this year and this will be the prelude to First Light. After First Light a period of commissioning will start, lasting a full year, during which many tests will be done of the telescope, optics, Acquisition and Guiding (A&G) boxes, etc. About four months after First Light, once the A&G boxes have been commissioned and the telescope optics has reached a certain quality level, the first science instrument will be mounted on the telescope for its commissioning. There will be four months for the commissioning of both this first instrument plus further commissioning of the telescope. Finally, eight months after First Light, a second scientific instrument will mounted on the telescope. The simultaneous commissioning of this second new instrument, plus the former instrument and the telescope will follow this. The emphasis in this period will be the operational aspects of the telescope together with these two science instruments. Once this last period is completed the telescope will be ready for science. It will then be open for the community's science proposals. It is expected that this will occur before the end of 2007. In my talk I will describe the current status of the GTC as well as the plans for its commissioning and preparation for science operation.