PRINCE Harry and Meghan Markle have set up firms a tax haven state for Harry’s multi-million dollar memoir, along with a host of other deals, according to reports.
Lawyers and business managers for the Duke and Duchess of Sussex have incorporated 11 companies and a trust for the couple since April 2020, according to state filings.
The couple opted to set up the firms in domestic tax haven Delaware – rather than in California where they live and conduct business.
Two of the companies are publishing firms, set up by attorney Richard Genow, who has worked with Meghan for Years, and the duchess’s business manager, money guru Andrew Meyer, reports Mail Online.
The first – Peca Publishing LLC – was used by Meghan to hold the rights for her children’s book The Bench.
The second – Orinoco Publishing LLC – is thought to have been set up to hold the rights for Harry’s in his bombshell memoir – due to be published later this year.
Peca translates from Spanish to freckles – which could be a reference to a book Meghan wrote in eighth grade titled A Face Without Freckles… Is a Night Without Stars.
And Orinoco is the name of a South American river, which flows through Venezuela and Colombia.
Other companies set up by the Sussexes include Cobblestone Lane LLC – which was set up in February 2020 and holds the Archewell logo.
Two others manage the royal’s netflix and Spotify deals – Archewell Audio LLC and Archewell Productions LLC.
Two more “entertainment” companies were created a year later – Bridgemont LLC and Hampshire LLC.
It’s thought the names of these firms could be a nod to the couple’s holiday to Hampshire in the last few weeks of Meghan’s pregnancy in Spring 2019.
Meanwhile Baobab Holdings, set up in February 2021 – is said to deal with “investments”.
Baobab, is a type of tree from Africa and Australia, also known as the “upside down tree”.
Another firm, Nemawashi Holdings LLC, is described as a “holding company”.
In Japanese, Nemawashi means an informal process of quietly laying the foundation for some proposed change or project.
BOMBSHELL MEMOIR
Harry’s bombshell memoir is due for release later this year and according to its publishers, will include details of Harry’s “lifetime in the public eye from childhood to the present day”.
The duke has vowed to give a “wholly truthful” account of his life , with the announcement said to have triggered a “tsunami of fear” in Buckingham Palace.
The book’s exact release date has not yet been confirmed.
