Regulations
Banco San Juan Internacional, Inc. is a corporation bound by the laws of Puerto Rico, Commonwealth of the United States, which is governed by Act Number 52, dated August 11, 1989, as amended by Law Number 121 of August 11, 1996. It is under the supervision of the Office of the Commissioner of Financial Institutions of Puerto Rico (OCIF).
Puerto Ricans have been US citizens since 1917, when the United States Congress passed the Jones Act, it is subject to the full power of the US Congress through the Territorial Clause. This means that the power to exercise its sovereignty rests with the United States Congress and the powers existing on the island. Everything related to currency, defense, foreign relations and trade between states fall under the jurisdiction of the Federal Government from United States.
Puerto Ricans are citizens of the United States with all the rights and duties conferred by that citizenship.
It is legally a bilingual territory, in the sense that both Spanish and English are official languages.