Prince Michael Of Kent’s Company Reports £750,000 Losses

      
  Editor-in-Chief
Posted: 13 January 2013 10:52 am

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Prince and Princess Michael of Kent (The Queen’s cousin and cousin-in-law) have reported worrying losses of over £750,000 ($1,209,150) on their business activities. The write-off is coming from a branch of the couple’s firm, Cantium Services. Companies’ House reports that Cantium Services deals with ‘Scientific and Technical Activities’.

Last year, they managed to make a profit on their company, exceeding £100,000 – with the help of Russian Ogliarch, Boris Berezovsky, who offered to pay the firm’s staffing costs at over £300,000 over the next year. Friends of the couple have now confirmed that no more money has been accepted. 

An associate of the Prince said in September that the Russian tycoon had given no more money to the couple after the £320,000: “The original donation came about because Mr Berezovsky has a high regard for the Prince, and, in particular, the work of the foundation which he set up in Russia in 2004 to promote heritage, culture and health.”

Prince and Princess Michael of Kent receive no money from the Monarchy [The Queen] or the Government. They pay £120,000 a year for apartments in Kensington Palace, alongside Prince William, Catherine and Harry who get their apartments supplied and paid for by The Crown. Previously, the apartments were a wedding present for Prince and Princess Michael, though in 2010, the couple agreed to pay the annual rent for the apartment and be removed from the Civil List.