The procedure for a yacht registration in Panama is straightforward and simple.
The Provisional Registration may be obtained in 2 days after the application. It will be necessary to provide complete information about the vessel and to pay the government taxes. Once the Provisional Registration is obtained, there is a term of 6 months to present all the original documents in order to obtain the Permanent Registration.
Provisional Registration
For the Provisional Navigation and Radio License, we will require the following information:
- Name of the vessel
- Owner’s name and address
- Previous name of the vessel
- Previous nationality
- Place of built
- Date of built
- Builders
- Number of decks, mats and funnel
- Material of the hull
- Length, breadth and depth
- Tonnage: gross and net
- Type and number of engines
- Type and number of cylinders
- Brand and name of manufacturers
- Speed of the vessel
- Horse powers
- Authority in charge of the radio (if apply)
- Information about the radio and equipment
- Areas of navigation
Permanent Registration
Documents required in order obtaining the Permanent Registration of the ship in Panama:
The following list of documents shall be presented in a term of 6 months after the issuance of the provisional registration.
- Proof of ownership (Bill of Sale or Building Certificate).
- Power of attorney on behalf our Firm for registering the yacht (we will provide draft).
- Deletion certificate / cancellation of previous registry (not required for new vessels).
Note regarding the above documents:
The above documents shall be authenticated by a Panamanian Consul or by Apostille.
Costs & Fees:
There is no minimum tonnage required for the registration of a yacht and there is a sole enrolment charge of US$1,500 for Yachts. If the yacht is owned by Panamanian natural person or Panama IBC, the charge shall be of US$1,000.
Our fees for registering a vessel in Panama are US$1050.00 and include the registration of the provisional and permanent registration as well as the procedure expenses.
Yacht registration time frame:
Our Firm can obtain the Provisional Registration once all the information is provided in approximately 2 business days.
Second year payments:
Every two years the vessel shall pay to the Panama Government US$1500 (or US$1,000 if owned by a Panama IBC) and US$300 to our Firm as Resident Agents of the Vessel in Panama.