(Newswire.net — January 23, 2020) — News channels love to talk about Meghan Markle. Ever since her televised announcement of her engagement to Prince Harry, she’s been trending on social media. Now, with their decision to be independent of the royal family, it’s only going to intensify.
If you’re hearing too many theories and want to get the facts straight, look no further. Here’s what we know, and our unbiased opinion on how this move will affect the couple, the royal family, and the world.
What We Know So Far
- On 8 January 2020, the couple announced that they are stepping back as ‘senior’ members of the Royal Family.
- The Queen stated that while she would prefer they stayed, “we respect and understand their wish to live a more independent life.”
- The couple will be living part-time in Canada, and divide their time between North America and the UK.
- The Duke and Duchess of Sussex don’t want to be reliant on public funds. Instead, they will use their current wealth to build a global brand.
Why Did Meghan Markle and Prince Harry Choose Canada?
The couple wanted to be independent of the royal family and start their new life in North America, but why Canada? Experts explain this was a smart move on their part.
Tax Advantages
Financially, moving to Canada will help the couple avoid the US’s complicated international tax laws. Otherwise, they run the risk of having the Internal Revenue Service (IRS) send notices to the royal family in Buckingham Palace.
Security
Canada is a member of the British Commonwealth, and the Queen is head of state, so the couple may be able to draw on the Canadian state for help with security. As internationally protected people, they’ll have an easier time receiving Royal Protection from the Metropolitan Police in Canada. In the U.S, they would have little to no options.
Divorce Laws
Markle married actor and producer Trevor Engelson in 2011 and concluded a no-fault divorce two years later, so she’s no stranger to the law. In the event of a split, Canadian divorce law divides new marital wealth equally. If they moved to the U.S., the conditions of their divorce would have been determined by each state.
The Effects of “Megxit”
The New York Times crew coined the term “Megxit” by drawing parallels between the couple’s separation and Brexit, UK’s withdrawal from the European Union.
How Are Canadians Handling It?
Canada’s largest newspaper, The Globe and Mail, published a scathing editorial stating that the royal couple’s migration to Canada goes against everything the country represented. “A royal living in this country does not accord with the long-standing nature of the relationship between Canada and Britain, and Canada and the Crown,” it noted.
Canadians are split as well. Some believe the couple will be a symbol of national pride and elevate the nation’s status. However, the majority of the population isn’t thrilled.
According to a poll by the Angus Reid Institute, 73 percent of Canadians don’t want to cover the expenses of having senior members of the royal family living in their country. They believe their presence could cost taxpayers millions, and cause a constitutional crisis.
What Will Happen to Vancouver Island Real Estate?
Diamond and Diamond Lawyers state that selling or buying a property in Canada is a major investment for the vast majority of people. While Vancouver is known for its gorgeous and unaffordable homes, locals are speculating what will happen when Prince Harry and Meghan Markle move into their waterside mansion on Vancouver Island.
The Good News
The attention from the royals’ visit will benefit the region. The Duchess of Sussex is already displaying a positive impact with her recent visit to women’s centers in Vancouver. This publicity could become a tourist attraction and boost the local economy. Many Canadians see the potential for the couple to become one of Canada’s highlights.
The Bad News
You can already tell by the spike in Google searches for “Victoria” and “Saanich” that the once peaceful area is going to be a new destination for jet-setters. There’s already a housing affordability crisis due to the high demand and lack of supply, so prices are expected to rise. This year alone it went up 3.7 percent in Victoria.
Another common concern is how much Canada will need to pay to support the royal couple. In the UK, their security costs are covered by British taxpayers, and during official visits, they are protected by the Royal Canadian Mounted Police (RCMP).
As future residents, it’s unclear who will be funding their personal protection. While the Duke and Duchess are not automatically eligible for the protection from the RCMP, it’s up to the government to make their final call. The public safety minister has the authority to grant protection to designated people, and it’s yet to be decided.
Building Their Own Empire
They have already trademarked the label “Sussex Royal,” for their upcoming global brand. We are expecting branded tea towels, kitchenware, and other goods that may appear in department stores. By launching their own brand, it’ll further establish their independence from the royal family and follow the footsteps of many other business-savvy celebrities.