Puerto Rico was a Spanish colony from 1493 until the end of the Spanish-American War in 1898 when it became a U.S. territory. By virtue of Law 600, the Commonwealth of Puerto Rico drafted its own Constitution, which was approved by a majority of votes in 1952. The Constitution of the Commonwealth of Puerto Rico sets forth the same basic rights and government structure as the U.S. federal charter. Although fiscally autonomous, Puerto Rico operates under the tenets of both U.S. and Commonwealth Constitutions and, historically, has had one of the most stable governments in the Americas. Puerto Rico’s modern and highly efficient infrastructure, transportation, utilities, telecommunications and financial systems are geared toward continued growth. In addition, the proximity and accessibility of the Island not only to USA but to Latin America and Caribbean, makes it an ideal strategic location for export and transhipment operations.
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