Panama Maritime & Ship Registrations
Yachts Registration in Panama | Details
The procedure for a pleasure vessel registration such as yachts, boats, sailing vessels, and catamarans in Panama is straightforward. A Provisional Registration may be obtained approximately two days after the application; it will be necessary to provide complete information about the vessel and pay the government taxes.
Once the Provisional Registration is obtained, there is a term of 6 months to file all the original documents to get the Permanent Registration.
Please find below a summary of the procedure for registering a pleasure vessel under the Panama flag.
Additionally, it would be required the registration payment to the Panama Government and a declaration signed by the owners declaring that the vessel would not be used for commercial purposes.
For the Permanent Registration, the following documents are required: (term: six months after the issuance of the provisional registration) proof of ownership such as a bill of sale or building certificate, a power of attorney on behalf of our law firm, and a deletion certificate or cancellation certificate from the previous registry; not required for new vessels.
Costs and Fees for registering a yacht in Panama:
There is no minimum tonnage required for the registration of a pleasure vessel, and there is a sole registration charge of US$1,500 for each boat. If a Panama person owns the ship, Panama Company, or Panama Foundation, the cost would be US$1,000.
Contact us to obtain a formal quotation for registering a vessel in Panama, including the provisional and permanent registration, legal fees, and procedure expenses.
Second Years Payments:
Every two years, the vessel shall pay to the Panama Government US$1,500 (or US$1,000 if owned by a Panama entity), plus our firm fees as Resident Agents of the vessel in Panama.
Registration Time Frame:
Our firm can obtain the provisional registration documents in approximately two business days (once the payment is received and all the documents and information are provided). Contact us for further details on registering your pleasure vessel in Panama.
Get in touch with us!
Advanced Tower, 1st Floor
Panama City, Panama
+507 264.5570 | 264.5931