London (CNN) – The surprise announcement of the Dukes of Sussex of their plans to step back from the royal duties and make the “transition to a new working model” has raised many questions, among others, how they plan to stay.
The Prince Henry and Meghan published a detailed document describing the structure and financing of their home.
The measure will allow them to continue with their “charitable efforts and set new goals,” while allowing them to earn a professional income, which they are currently prohibited from doing.
“Their Royal Highnesses feel that this new approach will allow them to continue performing their duties for her majesty the queen, while having the future financial autonomy to work externally,” says her website.
Cut that tie, they say, “it will take time to make the transition in consultation with other members of the royal family.”
The plan is to receive no more funds from the sovereign grant and achieve financial independence, says the long statement.
What is sovereign subsidy?
According to the United Kingdom Treasury, the grant supports the official affairs of the monarch, covering the costs of the central staff and the operating costs of the official home of the queen.
It also covers the maintenance of royal palaces in England and the cost of travel to carry out real commitments.
In exchange for this public support, the queen gives the government the income of Crown Estate, a collection of properties and farms in the United Kingdom that generate hundreds of millions of pounds a year.
The Dukes of Sussex say the sovereign grant covers only 5% of their costs and is used specifically for their official expenses.
In the statement, they said “they prefer to free themselves from this financial link.”
The couple said the new approach will allow them to “continue performing their duties” for the queen, while they have “a future financial autonomy to work externally.”
According to the current structure and financing agreements, the couple cannot obtain any income in any way.
In light of recent criticism of the 2.4 million pounds (about 3 million dollars) of public money spent on renovations of his home at Frogmore Cottage, they emphasized: “Public financing has never been used, nor will it be used for private expenses by the Duke and Duchess of Sussex, who also receive no tax privilege. ”
They said the renovation was funded by the sovereign grant, but the accessories, and furniture were financed by themselves.
The property still belongs to the queen, and the couple intends to continue living there while they are in the United Kingdom.
The remaining 95% of the couple’s “office expense” comes from the money Prince Charles gave them, generated through the Duchy of Cornwall.
A letter ruled that each future Duke of Cornwall would be the surviving son and heir to the monarch’s throne.
Today it finances the public, charitable and private activities of the Prince of Wales and his family, including the Sussex.
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How could they finance their lifestyle?
It is unlikely that the couple will have difficulties when it comes to their private income, whether through sponsorship, conferences or the like.
Media reports have suggested that Meghan was worth about $ 5 million independently before marrying Enrique.
The Duchess of Sussex today rose to fame as Rachel Zane in the American series of lawyers Suits, but her popularity also grew through her hugely popular Instagram account and her successful lifestyle blog, The Tig, which was closed.
In his first interview with Prince Henry in November 2017, Meghan said he intended to stop acting after his marriage, saying that change is a “new chapter” in his life.
But real biographer Penny Junor said it was possible that Meghan could revive her acting career, given the demand and the fees they could pay her.
“Perhaps he would have to be careful about the roles he would do, because he is a member of the royal family,” said Junor, quoted by Reuters.
In addition to his income from the Duchy of Cornwall, Enrqieu inherited several million from the queen mother, and his late mother, Princess Diana, entrusted him with a few million more.
His personal wealth is estimated at around 40 million dollars.
The cost of travel, for which they have received criticism in recent months, is privately funded and will continue to be, the couple said.
Any official visits they may make in the future will continue to be funded by the sovereign grant, plus the contributions of the host country, the statement said.
The cost of security will remain the responsibility of the British government, as the couple is “classified as internationally protected people who demand this level of security.”
A breakdown of costs has not been disclosed, with the UK government citing security reasons.
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