Kevin Richards, the chief executive officer of Kingston Properties Limited (KPREIT), says both the company and its shareholders should not be significantly impacted by new income tax laws from the island of St Lucia, where the company is registered as an international business company (IBC), thereby accessing zero taxation on its earnings.

Kingston Properties subsidiaries include Carlton Savannah REIT (St Lucia) Ltd, whose name was recently changed to Kingston properties, is incorporated in St Lucia under the International Business Company Act.

The property management company pays dividends at one of the highest rates seen locally, including a historic payout of 60 per cent of net profit in August 2020 of approximately US$400,000, which represented 66 per cent and 64 per cent of FFO during the year.

https://www.jamaicaobserver.com/business-observer/no-significant-impact-from-st-lucia-new-tax-laws-kpreit_224345?profile=1056