Frequently Asked Questions - Panama Yacht Registration
Can any national apply for the Panama yacht registration?
Regardless of nationality, anyone can submit an application for a Panamanian yachtregistration.
Do you accept paperwork in any language?
All the paperwork must be in English or Spanish; any paperwork in another language requires a sworn translation into Spanish. We'll deal with that.
What paperwork is necessary to register the yacht?
The paperwork required to register a yacht in Panama are:
For the Provisional registration:
✓A copy of the legalized power of attorney (POA), which appoints someone to represent the yacht owner during the registration procedure.
✓A copy of the bill of sale (BOS), which serves as proof of the yacht's legal ownership transfer.
✓A copy of the legalized Letter of Certification from the Owner for a pleasure yacht, attesting to the yacht's use solely for recreational purposes.
For the original registration:
✓Original Apostilled Power of Attorney (POA): This legal document appoints someone to represent the yacht's owner in dealing with the registration procedure.
✓Original Apostilled Bill of Sale (BOS): This document demonstrates the yacht's legal transfer of ownership.
✓An original, legally binding Letter of Certification from the Owner for a Pleasure Yacht: This document attests to the yacht's use solely for recreational and not business purposes.
✓Original Apostilled Deletion of Construction Certificate from Prior Registry: This document demonstrates that the yacht has been removed from its prior registry and is no longer registered abroad.
✓List of radio gear on board: This is a document that describes all the radio gear on board
What is the estimated time it will take for my yacht to be registered in Panama?
You can benefit from the Panama yachtregistration by getting your provisional yachtregistration in as little as 2 working days. This implies that you can nearly immediately use the Panama yacht registration. The two working days begin once we have received the required scanned documents from you.
Do you provide Provisionals?
Yes, the first stage of registration requires issuance of Provisional Patent and radio license, both valid for 6 months. During this period originals should be requested and has no additional cost.
How soon can you provide the provisional?
The provisional registration can be provided in 24 working hours if all paperwork is submitted. You can use the provisional document to sail your yacht already.
How does the registration document look like?
The Patent and Radio License for a yacht registered in Panama is issued by the Panama Maritime Authority (PMA) and is printed on security paper. It will typically include the PMA's engraved stamp and the coat of arms of the Republic of Panama.
How long is the Panama registration valid for?
The validity of a yacht registration in Panama typically lasts for 2 years for the recreational yachts and 5 years for the commercially registered yachts, after which it must be renewed. The renewal process is like the initial registration process and involves submitting updated documentation and paying any applicable fees. It is important to note that not renewing the registration on time may result in fines and penalties.
Is inspection needed?
Private yachts do not require inspections. However, insurance and an assessment survey are necessary for commercial yachts exceeding 500 gross tons. Even though there is no upper age limit for PMD [Panama Maritime Authority], it may occasionally ask for an assessment survey for older yachts.
Do the papers need to be apostilled?
Yes, when applying for original registration, the power of attorney, bill of sale and the deletion needs to be provided to the registry, and they must be apostilled and original.
Is there a possibility to register a kayak/jet ski?
Unfortunately, no. However, we can submit an application for its registration along with the one for the main yacht.
What flag do I need to fly on my yacht once the registration is done?
The Panamanian flag should always be flown on the yacht after they have been registered in Panama.
Do you help with the MMSI license?
Yes, we can request the MMSI while applying for the registration with no additional cost.
What payment methods are accepted?
All payment methods are accepted.
What kind of license is required to sail?
International Certificate of Competency (ICC) and the International Sailing License and Credentials (SLC) are the most accepted ones. You should be eligible for any charter because the ICC is accepted by the UN and utilized throughout most of Europe and the Mediterranean.
How can I cancel the current Panama registration?
If all taxes and fees related to the yacht are paid and up to date, the legal representative in Panama can request the deletion of the yacht from the Panama registry. The request can be made due to the transfer of the yacht to another registry or any other reason the owner wishes to invoke. The legal representative would need to provide the necessary documentation, such as proof of transfer or sale, to the Panama Maritime Authority (PMA) to initiate the deregistration process.