There is no minimum tonnage required to register a vessel in Panama.

There are no restrictions regarding nationality, which means that any person or company can register a ship under the Panamanian flag.

Vessels registered under the Panama flag but under charter to a company incorporated in another country may be simultaneously registered in that country.

Preliminary registrations of titles/mortgages are easily accepted by US and European banks around the world to provide satisfactory security.

All major class survey companies and members of IACS are authorized by Panama to survey Panamanian vessels.

The Republic of Panama does not tax any income from ships engaged in international trade.

Vessels under construction may also apply for the provisional registration and radio call letters.

For pleasure vessels such as yachts, boats, sailing vessels, and catamarans, there is a sole enrollment charge of US$1,500. If the ship is owned by a Panamanian company or a Panama Foundation, this charge is only US$1,000.