Australia was founded as a British colony in 1788. The establishment of the colony began with the arrival of the First Fleet of British ships at Port Jackson (Sydney Cove) on January 26, 1788, led by Captain Arthur Phillip. This date is now commemorated as Australia Day. The colony was formally proclaimed by Governor Phillip on February 7, 1788, and initially established as the penal colony of New South Wales as part of the British Empire. The modern nation of Australia came into existence later, on January 1, 1901, when the six British colonies federated to form the Commonwealth of Australia.