Meghan Markle’s title of Duchess: could mean some future tax troubles

With Meghan Markle set to become a Duchess in May through her marriage to Prince Harry, it’s likely that she’ll be getting some type of allowance from the British Royal family. Currently the British royal family has a fortune of over $500 million and most of the members of the royal family do receive an ongoing income which equates to around $104,000 US annually.

As Meghan Markle is planning on remaining a US citizen for at least five years was a very good chance that she will continue to pay taxes both in the UK and to the IRS on all of the income that she earns from the royal family.

Currently Markle is in the UK on a family visa and as the fiancée of a British citizen she needs to marry on this visa before obtaining the title to maintain her status in the UK. Meghan Markle only received her family visa just a few months ago and under UK law a person must marry within six months of obtaining the visa.

Under 2.5 year increments she can get UK residency for five years until she applies for citizenship. When Markle finally receives her citizenship she will have dual citizenship between the US and the UK. Until she is eligible to apply however she will be responsible for paying taxes to the IRS which could effectively represent money flowing out of Britain into the United States.