44 August 2016 - Business View Caribbean
A mere few years ago, British-born, American citizen,
Keith St. Clair, came to Puerto Rico with a vision and
vast experience in travel and tourism. Today, he is a
permanent resident of territory, having taken advan-
tage, in 2015, of the island government’s three year-
old Act 22, the Individual Investors Act, a law designed
to attract high net worth investors to Puerto Rico by
providing complete tax exceptions on dividends, inter-
est, and capital gains, so long as the individual is pres-
ent in Puerto Rico for at least 183 days a year. “I am
living in Isla Verde, building in Isla Verde, and investing
in Isla Verde,” says St. Clair of his newfound home.
And while hoping to reap the economic benefits of his
nascent, hotel empire, St. Clair is not unmindful that
his projects and investments will also help spur Puerto
Rico’s tourism sector, turning it into a stronger engine
of economic development and job creation. “It is our
goal, through this project and others that are in de-
velopment, to create at least 1,000 direct jobs,” he
