is an international maritime center for
banking, insurance, finance and shipping.
Over seven thousand large ships and vessels
from around the world fly the Panamanian
flag, and Container Ship Transiting Canal
Locks enjoy Panama’s offshore tax
free status and strict maritime safety,
regulatory and legal protection.
clear advantages to ships flying the Panamanian
flag, coupled with Panama’s strategic
geographical position in world shipping,
it is clear why the Panamanian Ship Registry
has become the world’s largest registry,
both in terms of gross tonnage and in number
of vessels registered.
laws and regulations governing the flagging
and operation of Panamanian flagged ships
are simple, yet complete. They afford the
vessel’s owners the legal security
of established maritime judicial protection,
while providing them with a strict regulatory
its foundation over 75 years ago, the Panamanian
Ship Registry has grown to become the world’s
largest registry, both in terms of gross tonnage
and number of vessels flying the Panamanian
flag. In addition to cargo & passenger
vessels, the Registry includes offshore drilling
platforms, dredges, barges, and private yachts,
over 7,000 vessels of 100 Gross Tons or greater.
or corporation, regardless of their nationality,
may register virtually any marine vessel
in the Registry. Vessels transferred to
the Registry do not have to be re-surveyed
if they hold current safety and tonnage
certificates issued by a recognized entity.
from Panamanian flagged ships are completely
tax exempt, even if the transportation contract
was executed in Panama. Similarly, any capital
gains from the sale or transfer of a Panamanian
flagged ship are tax exempt, even if the
sale was executed in Panama.
registry imposes no minimum tonnage requirement,
and vessels of any size, type or age are
eligible for registration.
Maritime Tribunal is recognized worldwide
for its efficiency and compliance with global
maritime standards. This Petro Transport
Ship Transiting Canal facilitates any required
maritime legal transactions, regardless
of where the vessel may be lying. The Court
can handle any maritime dispute, including
claims, sequesters, and labor matters. Given
the importance of shipping to Panama, the
Court is available 24 hours a day, 365 days
an extensive network of worldwide maritime
consulates, located in major ports, which
facilitates maritime transactions of Panamanian
flagged vessels. Ship registry can be conveniently
handled via this network.
time-tested corporate and ship mortgage
laws are among the world’s best, in
terms of stability, judicial protection,
and regulatory protection.
Registry boasts one of the world’s best
records in environmental and safety compliance,
and in vessel loss prevention. Panama now
has over 1,000 inspectors in over 300 ports,
insuring compliance worldwide.
professional community offers ship owners
a broad array of world class maritime services,
including legal, accounting, banking, finance
and insurance. Given this solid maritime
services framework, coupled with the U.S.
dollar as Panama’s currency, many
ship owners utilize Panama as a “one
stop” center for all their personal
and corporate needs.
& Associates can provide ship owners
with Registrations, Corporations, Personal
Foundations, Trusts, and other services,
vessel’s enrollment in the Panamanian
Registry is simple and efficient. A Provisional
Patent is applied for and issued for a six
month period (and can be extended for another
three months). Applications can be filed in
Panama, or through Panamanian Maritime Consulates
around the world.
Provisional Patent has been issued, the
vessel’s title documents (bill of
sale; or construction certificate, if new;
naval Ship entering Pedro Miguel Locks at
Panama Canal mortgages) must be filed in
Panama’s Public Registry. Thereafter,
a Permanent Patent is applied for and issued.
The Permanent Patent is good for four years
for commercial vessels and two years for
pleasure vessels. The Permanent Patent is
renewable indefinitely for equal terms as
long as the vessel is in compliance with
Registry laws and regulations and is current
on payment of Registry taxes and fees.
a Radio License is required for all vessels
in the Panamanian Registry. A three month
Provisional License is applied for and issued
with the Provisional Patent; the Permanent
License is applied for and issued with the
Permanent Patent, is good for four years,
and is renewable indefinitely.
a three month, non-renewable Temporary Patent
is available for those vessels to be scrapped,
transited, or otherwise temporarily navigated.
FILING REQUIRE- MENTS OVERVIEW *
information and documentation for Provisional
and Permanent Patents is fairly straightforward.
Information required includes: current and
previous names of the vessel; its type and
IMO #; owner’s name and address; admeasurements
including tonnage; technical information such
as engine data; shipyard, year and place of
construction; radio accounting authority;
classification society; etc.
submission may be waived for Temporary Patents
but is mandatory for Permanent Patents.
Documentation must be duly notarized and
authenticated by Panamanian Consul or Apostille.
Documents required include: Bill of Sale;
Acceptance of Sale; Builder’s Certificate
(if new); Limited Power of Attorney (to
act as Resident Agent & Legal Representative
in Panama); Deletion Certificate from Previous
Registry; Admeasurement or Tonnage Certificate;
Radio License Application; and Report of
Inspection for vessels over 20 years old.
Panamanian flagged vessel’s naval mortgage
may be executed in Panama or any other country,
but must be registered in Panama’s Public
Registry. It will not be effective against
third parties until it is duly registered.
The mortgage may be written or executed in
any language or form.
are no restrictions as to the language,
provisions or requirements agreed to by
the parties, a mortgage Container Ship Transiting
Pedro Miguel Locks at Panama Canal to be
registered must contain the following information:
names & addresses of mortgagor &
mortgagee; fixed or maximum mortgaged principal;
principal and interest payment schedules;
interest rate or manner of determining interest
rates; mortgaged vessel’s name, Patent
#, tonnages and dimensions; & for multiple
vessel (fleet) mortgages, the encumbrance
of each vessel.
mortgage provisions are required for ships
under construction. Please see the Registry
Requirements and Information Document for
registered naval mortgages may be amended,
discharged or eliminated by written, notarized
consent of both parties.
Registry Details Document [+]
for further details.
Advance Building, 099
100 street Beatriz Cabal
Panamá, Rep. of Panamá
Telephone: + (507) 269-2523
Fax: + (507) 269-2548
Mail: P.O. Box 081903288
El Dorado, Panamá, Rep. of Panamá
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