Competitive costs.
There are considerable lower costs for registering a ship in Panama compared to other Jurisdictions.
No minimum tonnage.
There is no minimum tonnage required for the registration of a vessel in Panama.
All nationalities accepted.
Absence of restrictions regarding nationality, which means that any person or company is able to register a vessel under the Panamanian flag.
Dual Registration Possible.
The possibility of dual registration. Vessels registered under the Panama flag but under charter to a company incorporated in other country, may also be simultaneously registered in that country.
Advantage of a preliminary registration of title / mortgage.
Preliminary registration of title / mortgage is easily accepted by US, European and worldwide banks as providing satisfactory security.
Major class survey societies accepted.
All major Class Societies and members of IACS are authorized by Panama to survey Panamanian vessels.
Tax advantages.
Income derived by vessels engaged in international trade is not taxed by the Republic of Panama.
Vessels under construction can obtain provisional registration.
Vessels under construction may also apply for the provisional registration and radio call letters.
Advantages for Pleasure Vessels (Yachts, Boats, Sailing Vessels)
There is a sole enrollment charge of US$1,500 for Yachts, however, if the yacht is owned by Panamanian natural person, Panamanian company or a Panama Foundation this charge shall be of US$1,000.
Contact us for registering your ship or yacht in Panama.
Our Firm will be glad to assist you and provide all the legal services related to the registration or enrollment of vessels and yachts under the flag of the Republic of Panama. We can assist also with the registration of mortgages over these vessels as well as other services connected to maritime activities. Feel free to contact us for any questions.