The nine-bedroom Californian estate was reportedly bought by a limited liabilities company started by the Duchess of Sussex, according to tax records that match. However, it has emerged that it is possible for Meghan and Harry to purchase future property using money donated to Travalyst. In the articles of association for Travalyst, which was registered as a limited company in the UK on April 3, it asserts that it can buy any real property or personal property if it is deemed “necessary or convenient” for the purposes of the company.
In the section on “powers” the company has to further the “objects”, it asserts that one of these powers is to: “Purchase, take on lease, exchange, hire, or otherwise acquire any real property, whether situate in the United Kingdom or abroad, and any personal property, and any rights or privileges necessary or convenient for the purposes of the company and to construct, alter and maintain any buildings required for the purposes of the company.”
This means that if Meghan and Harry could justify why they need a property anywhere in the world to further the objectives of their sustainable travel initiative, they would be able to use company coffers to do that.
Not only that, but Harry is a “person of significant control” in the company, meaning he holds at least 75 percent of the shares.
As a person of significant control, he has the power to appoint and remove the majority of the board of directors.
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Meghan and Harry have just bought a mansion in Santa Barbara (Image: GETTY)
Travalyst is Prince Harry’s sustainable tourism initiative (Image: GETTY)
All this essentially means is that Harry has power over what the company chooses to do with its money.
What’s more, Travalyst currently holds hundreds of thousands of pounds originally donated to the couple’s charitable causes.
Last year, when Meghan and Harry split from The Royal Foundation, a charity they ran with Prince William and Kate Middleton, large “unrestricted grants” were given to their new non-profit Sussex Royal, as well as to Travalyst which, at the time, was under the banner of Sussex Royal.
The Royal Foundation gave £145,000 to facilitate the setting up of Sussex Royal and £144,901 were paid to Travalyst.
Meghan and Harry split from The Royal Foundation last year (Image: GETTY)
However, after Meghan and Harry stepped down as senior royals, they were instructed not to continue using the Sussex Royal brand and the decision was made for the Sussex Royal Foundation to shut down and make way for their new project, Archewell.
However, the launch of Archewell has been delayed.
The couple are said to be helping the Black Lives Matter movement and with the coronavirus pandemic.
A source told Express.co.uk last month that all Sussex Royal funds would be transferred to Travalyst.
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Meghan and Harry stepped down as senior royals at the end of March (Image: GETTY)
They said: “During its 12 months, the sole programme in operation and development at the charity has been the sustainable travel and tourism initiative, Travalyst.
“Travalyst is now operating as an independent nonprofit based in the UK, and all assets from Sussex Royal will transfer over.
“The travel and tourism sector has been one of the hardest hit by the coronavirus pandemic, with communities and people’s livelihoods impacted around the world.
“The Travalyst partnership is committed to playing an active role in helping communities that rely on tourism rebuild and recover in ways that support their long-term sustainability and resilience.”
Sussex Royal is now going into solvent liquidation.
In the Declaration of Solvency, published on July 28, the statement of assets and liabilities revealed that it had £99,000 in the bank and was owed £200,000 by a mystery donor.
After accounting for costs that will occur between July 28 and the full closure of the company, it was asserted that £248,000 would be left to give in a grant, which will go to Travalyst.
This means that Travalyst has now received funds that originated in The Royal Foundation, Sussex Royal and potentially other direction donations.
For example, the Duke and Duchess of Sussex said on Instagram in July 2019 that Disney had offered to donate to their “upcoming environmental and community initiative”, widely believed to be referring to Travalyst, which was announced in September 2019.
The royal couple wrote on their Sussex Royal Instagram account: “As part of their commitment to this cause, Disney also made a donation to The Duke of Sussex’s upcoming environment and community initiative, which will be formally announced this autumn.”
