Prince Harry and Meghan register 11 companies in tax haven

AFP – Prince Harry and his wife Meghan Markle have reportedly created a network of 11 companies in the state of Delaware, a tax haven, in order to expand their lucrative business interests in the United States as reported by the British and American media on Wednesday and replicated around the world.

Although the couple lives and does business in California, they established the companies in Delaware, a state that does not tax business transactions and does not impose inheritance tax.

The companies have been set up by the duchess’s lawyer, Richard Genow, and her chief commercial officer, Andrew Meyer, according to information from The Daily Telegraph.

The benefits of establishing a company in Delaware also include low personal income tax rates and the fact that shareholders who do not live in Delaware do not need to pay state stock taxes.

Among the companies are two publishers: Peca Publishing LLC and Orinoco Publishing LLC.

Peca, which was used to hold the rights to the Duchess’s children’s book, ” The Bench”, could allude to the first book she wrote as a child, titled “A Face Without Freckles… Is a Night Without Stars”?

Orinoco Publishing LLC is expected to hold the rights to the Duke’s memoir, which will be published later this year.

The Telegraph says  the name refers to one of Princess Diana’s favorite songs: Orinoco FlowH, by Irish singer Enya.