Prince Harry and Meghan’s decision of relocating to the US following their decision of stepping down from their royal duties in the UK has gathered a sordid amount of criticism. Now, the couple is faced with prospects of paying millions in taxes without the help of the Royal Family. This could lead to many problems for the couple.

The couple has recently purchased a $14.7-million-dollar estate in Santa Barbara, California. According to sources, the couple had to get a hefty mortgage of $7-million-dollars to help their payments.

Despite the couples, large networth, the maintenance of their new estate as well as their plans of expansion outside of the royal family may cost them taxes over $5-million-dollars annually.

This presents a problem especially to Prince Harry, although the prince is not a US citizen, Meghan and their son, Archie, one-year-old are. Prince Harry will also have to pay UK taxes other than the ones he is paying in the US.

Right now, Prince Harry is immunized from paying taxes, but if he stays over 121 days in the US, he will have to pay up.

One option that Harry has is to get citizenship, but not a US citizenship, instead of one from Canada.

Tax advisor, Davis Lisperance shares his thought on this topic, saying, “If I were to advise Harry, purely from a tax point of view – whether this looks good, and whether this fits the image, and whether this impacts their revenue production because of the image, I would recommend that he actually becomes a resident for tax purposes in Canada and then use Canada as a shield against claims in the US and the UK, because unlike the UK and the US, Canada does not have an estate tax.”

Prince Harry and Meghan spent some time in Canada earlier this year. Canada was the country they flew to after announcing their exit from their royal duties.

The possibility of Prince Harry being taxed in the US and UK for his revenue in each of those countries is high but this does not take into account the worldwide revenue of the Prince.

Mr. Lisperance explained that Canada has income and capital gains tax applied against worldwide taxation and the possibility of reducing or even eliminating Canadian taxation of income not generated in the country.

This could save a lot of money for the couple, especially that of the Prince but this means a lot of work for the couple. As of now, Prince Harry has only one citizenship, and that is the UK citizenship.