YACHT AND VESSEL REGISTRATION

YACHT AND VESSEL REGISTRATION
Panama has the largest merchant marine fleet in the world in terms of number of ships and registered tonnage, as a result of a diversity of advantages it provides, such as the following:

  • All income arising from Panamanian registered vessels engaged in international trade is tax free;
  • Capital gains resulting from the sale or transfer of a vessel registered in Panama is not considered taxable income in Panama;
  • There are no nationality restrictions when it comes to the ownership of a Panama vessel;
  • The existence of a specialized Maritime Court, authorized to oversee and govern maritime cases in the Republic of Panama, that operates 24 hours a day, every day of the year, including holidays;
  • The existence of an extensive network of overseas consulates in major city ports throughout the world, which allows convenient and expeditious processing of most maritime related transactions;
  • An international provisional navigation license and provisional radio license can be issued with minimal requirements.

To register a Yacht in Panama the following requirements must be met:
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