Panama Boat Registration


Register your yacht in Panama



Private owner
Panama Yacht Registration
$995 USD(Our Fee)
  • Valid world wide
  • All nationalities available
  • Register as private or company
  • No survey needed
  • MMSI radio license incl.
  • Registration for 2 years
  • Register in 24 hours
  • No VAT on the purchase of yacht
  • NO maritime restrictions
  • No survey needed (up to 20yrs old)

*not included: Government fee $1000 or $1500

*not included: Bill of Sale Registration $470

Panama Company Set-up
Panama Yacht Registration
$1250 USD(Our Fee)
  • Offers asset Protection
  • No Taxes
  • Offers Confidentiality
  • 1st year annual tax
  • 1st year registered agent
  • 1st year nominee directors (if needed)
  • Articles of incorp. in ENG/ES with apostille
  • Register of Meeting and share
  • General and Broad Power of Attorney
Corporate owner
Panama Yacht Registration
$2450 USD(Our Fee)
  • Valid world wide
  • All nationalities available
  • Register as private or company
  • No survey needed
  • MMSI radio license incl.
  • Registration for 2 years
  • Register in 24 hours
  • No VAT on the purchase of yacht
  • NO maritime restrictions
  • No survey needed (up to 20yrs old)

*not included: Government fee $1000 or $1500

*not included: Bill of Sale Registration $470

Panama is one of the most popular jurisdictions for ship registration due to the ease of registration and low registration fees as compared with many other countries. Panama offers registrants a reputable, simple paperwork, low tax offshore jurisdiction, strategic geographical location, and robust regulatory protection. As a result of these advantages, major international shipping companies choose to register their ships in Panama, with over 8000 ships and vessels from around the world currently flying the Panamanian flag. The Panamanian laws and regulations governing the flagging and operation of ships are simple, yet complete.

What is the registration procedure in Panama?
Registration is simple and efficient. First, a provisional registration is applied for and issued for a period of six months. Once the provisional Registration is issued, the vessel’s title documents (bill of sale, construction certificate, if new, or naval mortgage) must be submitted by us at the Panama public registry. When this is done, a permanent registration is applied for and issued. The permanent registration is valid for four years for commercial vessels and two years for private vessels. It is renewable indefinitely for equal terms provided that the vessel is in compliance with the laws and regulations.

Any person or entity regardless of nationality is eligible to register a vessel under the Panamese flag. That also means that vessel currently held under a UK LTD. or BVI LTD. can be registered under that LTD. in Panama. If you prefer, you can also register as private person and your nationality is not an issue. Lastly, if you prefer we can setup a Panama company with or without nominee directors to own your vessel. This will protect you against privacy and liability issues.

One of the biggest advantages of registering your vessel in Panama is the fact that no survey is needed for private yachts up to 20 years old. Most maritime jurisdictions need a recent survey by one of the main maritime survey institutes and the cost for this can be in the thousands of dollars while it takes a lot of time and effort.

Advantages of registering under Panamanian flag
  • Fast registration, we can issue your provisional registration within 24 hours.
  • No surveys required for private yachts up to 20 years old
  • No VAT on the purchase of a vessel
  • No tax on the crew wages of Panama flagged (if operating in international waters).
  • Anonymity guaranteed if you setup ownership under a Panama company
  • In case of sale - good advantages for buyer
  • The private registration is valid for 2 years and commercial registration for 4 years
  • It is valid in every country around the world and is a reputable jurisdiction
PANAMA PRIVATE USE YACHT REGISTRATION – WHAT PAPERWORK DO WE NEED?
  • Any national of any country can register under the Panama flag. It can be both a Panamanian entity or individual or a foreign company or individual. The only difference would be that in the first case the government maritime registration fees would be USD 1000 and in the second event, it would be USD 1500.
  • We need an affidavit in simple paper whereby the owners certifies that the yacht will be used for leisure and not commercial. (see our commercial registration section for details on that registration).
  • Bill of Sale, previous registration or construction certificate where it is evidenced you is the owner of the vessel *
  • Power of attorney in favor of our Panama law firm. (Please download form here)
  • Deletion Certificate of the yacht from previous registry unless it’s a new construction *
  • Simple statement setting forth the main areas of navigation of the yacht with its main coordinates
PANAMA PRIVATE USE YACHT REGISTRATION – WHAT ARE THE COST?
  • OUR FEE FOR ALL LEGAL AND SETUP US $1,250 (total fee for provisional & permanent yacht registration and radio license)
  • GOVERNMENT MARITIME FEES US $1,000 or 1,500 which ever applies – (see explanation above)
  • REGISTRATION OF BILL OF SALE US $ 470.00 (OPTIONAL)

PANAMA PRIVATE USE YACHT – RENEWAL FEES AFTER 2 YEARS
  • GOVERNMENT MARITIME FEES US $1,000 or 1,500 which ever applies – (see explanation above)
  • REGISTERED AGENT FEE US $ 350

WE CAN SET-UP A PANAMA COMPANY FOR YOU
Many vessel owners prefer to have their boat owned by a Panama company. To incorporate a company in Panama there is no need to have any Panamanian national as a member of the board or as a shareholder. We can incorporate the company using our supplied nominee directors or those provided by you. The incorporation process should take about 72 hours from the moment of placing the order. The registration of an all inclusive and complete Panama company , under the name you choose or one of our list of available names, will have a cost of $1250 USD.

The above amount will include :
  • First year annual tax payable to the government is included (300.00)
  • First year annual registered agent and Nominees, should you choose this option.
  • Articles of incorporation in Spanish and English with apostille
  • Good Standing Cert. /or Certificate of Incorporation in Spanish and English with aposille
  • Register of Meting and share
  • General and Broad Power of Attorney in Spanish and English with apostille
  • Resignation of the subscribers of the articles of incorporation (blank dated)
  • Resignation of the nominee board of directors (blank dated)
  • Nominee trust agreement and appointment of nominee shareholder ( if services is requested)
We will provide all you need to have a fully operational company for the above fee.

What paperwork do we need to setup the company?
We will need a color copy of the passport of the beneficiary, a utility bill or drivers license and a short explanation on what will be the usage for the company

What are the annual fees after the first year?
BASIC RENEWAL
  • Annual Franchise Tax - $300.00 USD
  • Annual Registered Agent – $250.00 USD
  • Nominee directors – $300.00 USD ($100.00 USD each) (if this service has been chosen)

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