The procedure for a pleasure ship (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 build
- Date of build
- 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 power
- Authority in charge of the radio (if applicable)
- Information about the radio and equipment
- Areas of navigation
Permanent Registration:
The following documents required in order obtaining the Permanent Registration 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 vessel (we will provide draft)
- Deletion certificate / cancellation of previous registry (not required for new vessels)
Note:
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 vessel and there is a sole enrolment charge of US$1,500 for each Yacht. If the yacht is owned by Panama natural person, Panama company or Panama Foundation the charge shall be of US$1,000.
Our fees for registering a vessel in Panama are US$1050 and include the registration of the provisional and permanent registration as well as the procedure expenses.
Registration Time Frame:
Our Firm can obtain the provisional Patent 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.