The Royal Family recently received a warning from a tax expert about the potential financial impact of Prince Harry’s US citizenship. Living in the US since 2020, after stepping down as a senior working royal, Harry’s visa status is currently unknown. However, he is eligible to apply for a green card through his marriage to Meghan, which would make him a permanent resident and subject to US taxes on his worldwide income.
This situation raises concerns about the Royal Family’s financial privacy, as Harry would be required to disclose their financial details to the US government. Tax expert Clayton Cartwright emphasized the importance of Harry staying on a diplomatic visa, stating, “The Royal Family wants him to stay on the A-1. I think they have common ground wanting him to stay on an A-1. If he’s consulted tax advisers then he will be staying on an A-1.”
Cartwright also highlighted the diplomatic significance of this visa, explaining, “The US has a foreign policy interest in not triggering US tax residency for diplomats. It is good diplomatic practice. It keeps things private to Great Britain, not just the foreign assets Prince Harry owns, but also other assets of the Royal Family on which he is listed.”
In addition to the financial implications, there are also concerns about the potential impact on Prince Harry’s relationship with the US government. If he were to obtain US citizenship or a green card, it could have broader diplomatic repercussions. Cartwright emphasized the significance of the A-1 visa, stating, “The A-1 is his golden ticket. If he’s on an A-1 he can sit here (in the US) forever. The US would not care.”
As such, it’s crucial for Harry to carefully consider his options and consult with tax advisers to make an informed decision that aligns with both his personal and diplomatic interests.
In conclusion, the potential impact of Prince Harry’s visa status on the Royal Family’s finances and diplomatic relations is a complex issue that requires careful consideration. As discussions unfold, it will be important for all parties involved to prioritize transparency and diplomacy in navigating this significant aspect of Prince Harry’s life in the US.
