Prince Harry and Meghan Markle’s son, Archie Mountbatten-Windsor, will need to make a major decision once he becomes an adult. This major decision has to do with his citizenship and his finances.
The Duke and Duchess of Sussex are scheduled to fly to the U.S. with their six-month-old son later this month. The trip will mark Baby Archie’s first visit to his mother’s homeland since he was born.
While things are not yet complicated for Baby Archie considering his very young age, things will reportedly get complicated for him when he reaches the age of 18. This is because when he reaches this age, he will have to make a difficult decision for himself as an adult.
Since he was born, Baby Archie has been a U.S. and U.K. citizen on paper. Despite being born in the U.K., Baby Archie is still considered a U.S. citizen because based on the U.S. Department of State guidelines, anyone born in wedlock abroad to an American citizen who has lived in the U.S. for a period of five years is a U.S. citizen. His mother, Meghan, was born and raised in the U.S. and had spent most of her life there before she moved to the U.K. and married Prince Harry.
Because Archie is a U.S. citizen, current laws require him to expose his assets and income to U.S. taxes until he is 18. This is somewhat a nuisance to the British royal family, which has always kept their finances under wraps. Because of Meghan and Baby Archie, they have no choice but to expose all their finances to the U.S. tax authority to ensure that both Meghan and his son are paying enough taxes back home.
Things may change for Archie when he reaches the age of 18. According to royal experts, Archie will have the right to renounce his U.S. citizenship when he is finally of legal age. If he chooses to do so, then he will no longer have to pay tax in both the U.K. and the U.S.
It remains to be seen if Archie will make that decision when he comes of age. This is because according to rumors, Prince Harry and Meghan Markle are planning to settle in the U.S. soon and stay there for good. If that happens, then Archie will grow up in America and will probably not want to renounce his U.S. citizenship in the long-term.
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