Company formation and registration procedures

Panama is the most widely chosen jursidiction for yacht and boats than any other country in the world. The Panama Ship Registry offers flexible requirements and fees for those yachts registered under the flag.

PRINCIPAL ADVANTAGE:

 - A flat registration fee, regardless of size or tonnage of the yacht.

- No surveys and technical  certificates are required to be presented for a pleasure yacht.

 - The Registration Certificate is issued for a two-year period, which is renewable thereafter

- The Provisional Registration may be obtained on the  same  day after the application. 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.

 
APLICABLE REGISTRATION TARIFF:
  
$1,500.00 - if owned by a foreigner
$1,000.00 - if owned by a Panamanian (or a Panamanian corporation)

This tariff must also be paid upon renewal of the Registration.
    

PROCEDURES AND REQUIREMENTS

Proceedings are expedite and normally should be completed within the  same  day.

To  registered the  yacht and  ownership provisionally (6  months) we need the  following  documents:

-   Notice of name proposed for a  ship.

-   Complete application form which requests data in respect of general and technical description of the ship.

 -  Payment of governmental fees.

-   Copy of Power of  attorney duly  notirized and  legalized ( draft will be  provided by  us).

-   Copy  of the Bill of Sale and  Acceptance of Sale duly  signed by  the vendor and   purchaser notarized and  duly legalized or if the yacht is newly built, then a Builder's Certificate

-   Affidavit, stating the vessel is  to be used for  pleasure purposes only. If the vessel is to be used for commercial purposes Passenger Ships Safety Certificate, International Tonnages Certificate ,  ISM Code & ISPS are requiered.


Afterwards, within a period of 6 months the following documents  should be presented to the Panama Maritime  Authority in order to complete registration on a permanent basis (2 years) and to obtain the ownership tittle:
 

- Original Bill of Sale and  Acceptance of Sale signed by  the vendor and purchaser and duly notarized and legalized, or if the yacht is newly built, then a Builder's Certificate

- Original Deletion Certificate issued by the previous registry (if  applicable). If  the  vessel is new  building  and  has  not  been registered before in any  port, builders  certificate must be provided. Both documents should be notarized and legalized.

- Original Power of attorney notarized and legalized.

- Fill  out radio license appliaction  form

 
Please note: you must also comply with the Radio Operator requirements, in order to register the yacht in Panama. For  more  information about a qualified radio authority please  contact us.

* We can also assist in obtaining a Panamanian yacht license for captain and crew.

For  more information please contact us.