Panama Vessels
Registration | Advantages
Competitive costs.
Reasonable costs
for the registration of vessels under the Panama flag compared
to other Jurisdictions.
No minimum
tonnage.
There is no
minimum tonnage required for the registration of a vessel.
All nationalities
accepted.
Absence of
restrictions regarding the 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 satisfactorily
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
constructions may also apply for the provisional registration
and radio call letters.
Advantages for
Pleasure Vessels (Yachts, Boats, Sailing Vessels)
There is a sole
enrolment charge of US$1,500.00 for Yachts and if the yacht is
owned by Panamanian natural person or Panamanian company, this
charge shall be of US$1,000.
Our Firm will be glad to assist
you and provide all the legal services related to the
registration of vessels under the flag of the Republic of Panama
and the registration of mortgages over these vessels as well as
other services connected to maritime activities.
