Yacht Registration in Panama
Overview
Yacht registration in Panama is available for vessels intended for personal use, such as yachts and pleasure crafts. Owners can choose between two registration types: international service, which allows the vessel to operate beyond Panamanian waters, or inland service, which applies to navigation within the country. Both options require compliance with legal and technical requirements established by the Panama Maritime Authority.
Kraemer & Kraemer provides legal maritime services to assist owners of recreational yachts through every stage of the registration process, from document preparation to the issuance of the official Panamanian flag certificate.
Requirements
The following documents are required for yacht registration in Panama:
- Document of designation of the Resident Agent
- Legalized certificate of cancellation or renunciation of the previous registry in case the ship comes from another registry.
- If the ship is under construction, a legalized certificate of the constructor
- Authenticated and legalized purchase and sale contract
- A sworn statement from the owner, explaining that the ship will not be used for commercial purposes
- Certification of the owners indicating the main areas where the ship will navigate, establishing the corresponding coordinates
Depending on the type of service for which the ship is registered, other requirements must be met.
Once the application for flagging is admitted, the General Directorate of Merchant Marine will issue a certificate of registration as evidence of its registration in the Merchant Marine. Likewise, the General Directorate of Merchant Marine will also issue a Navigation Patent and Radio License.
Order
Order Your Yacht Registration
(Owner is
Panamanian Company)
Contact us
Our team has the legal expertise to assist you in maritime matters. For questions about yacht registration in Panama, email info@kraemerlaw.com
Frequently Asked Questions
A: Provisional yacht registration can be issued in less than 24 hours. This allows you to sail almost immediately under the Panamanian flag, while you finalize the permanent registration, which usually takes a few weeks depending on the completeness of your documents.
A: No, you don’t. Foreign nationals can register a yacht in Panama without being residents. You can do so through a Panamanian offshore company, which also offers privacy and tax advantages.
A: Yes. Panama offers yacht registration for both international service and inland navigation. You just need to declare your intended use and provide the corresponding navigation area coordinates in your documentation.
A: Some of the most valued benefits include low government fees, fast processing (less than 24 hours for provisional registration), no inspections required for vessels under 20 years old, and a well-recognized maritime flag.
A: Any recreational or pleasure craft that is not used for commercial purposes can be registered in Panama. This includes motor yachts, sailing boats, and personal leisure vessels. The vessel must comply with basic safety and legal documentation standards.