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Panama Ship Registration

Panama is renowned for its large and influential ship registry.

Registering a ship under the Panama flag offers significant benefits, making it a popular choice for maritime operations. Key benefits include (a) Panama’s status on the White List of the Tokyo MoU, indicating high safety and compliance standards, (b) competitive registration and tonnage tax rates, and (c) a favorable regulatory environment with no restrictions on ship ownership or crew nationality. Additionally, Panama provides efficient administrative services and robust legal frameworks.

Register your vessel in Panama with ease through AGPLAW.  Our shipping services experts handle all aspects of the Panama ship registration process, ensuring compliance with local law and regulations. Our registration service includes comprehensive support throughout the entire process, all in English. Once we receive the necessary documents, we will handle the submission of your information for the Panama ship registration. Upon completion, your boat registration will be delivered to you via next day courier.

Ships are typically vessels used for commercial purposes, such as transporting cargo, passengers, or for specialized tasks like fishing, military operations, or research. They are generally larger than yachts and can range from small coastal vessels to large ocean-going vessels.  Ships require a professional crew to operate, including officers and other personnel responsible for navigation, engineering, and maintenance.  They are subject to extensive international regulations and standards, including safety, environmental, and operational guidelines set by organizations like the International Maritime Organization (IMO).

Experience hassle-free yacht registration in Panama with AGPLAW.  We provide specialized assistance to meet all Panama legal and regulatory requirements, allowing our clients to enjoy your yacht with peace of mind. Our registration service includes comprehensive support throughout the entire process, all in English. Once we receive the necessary documents, we will handle the submission of your information for the Panama boat registration. Upon completion, your boat registration will be delivered to you via next day courier.

Yachts are primarily used for recreational purposes, including leisure cruising, racing, and private travel. They can also serve as luxury residences on water. Yachts vary in size but are typically smaller than commercial ships. They can range from small sailing yachts to large motor yachts.  They are designed for comfort and aesthetics, often featuring luxurious interiors and amenities.  Smaller yachts can often be operated by their owners, while larger yachts may require a professional crew, including captains, engineers, and hospitality staff. Yachts are subject to regulations that ensure safety and environmental protection, but these regulations are generally less stringent compared to those governing commercial ships.

At AGPLAW, we provide a comprehensive range of legal services tailored to support our clients in the maritime industry. Our team of experienced shipping lawyers and consultants is dedicated to delivering high-quality legal support, ensuring you have expert assistance for all your maritime needs. We are committed to helping our clients through the complex and constantly evolving maritime sector. Whether you require support with ship registration, offshore incorporations, crew endorsements and certifications, or sale and purchase advisory, AGPLAW has the expertise and resources to help you succeed. Our legal assistance focuses on several key areas:

Our ship registration services cover flagging and reflagging, ship purchase closing procedures, and single voyage bareboat registration. Through our strong relationships with various Flag Administrators, we offer streamlined services available round the clock.  Our services include Vessel Delivery Documentation Assistance, preparation of Bills of Sale and Notarization, flag transfers, and documentation for vessels under construction. We address all challenges to ensure your operations remain seamless and compliant.

At AGPLAW, we offer company incorporation services and tax compliance support to help clients achieve their needs, including asset protection, business growth, and financial privacy. Our team of corporate consultants has the knowledge and expertise to explain the complexities of offshore incorporation and ensure compliance with all relevant tax laws and regulations.

We understand the importance of staying compliant with annual tax payments and related obligations. Our comprehensive services include keeping you informed of any changes in laws and regulations, assisting with the completion of necessary forms, and acting as a single point of contact to guide you through the entire process. At AGPLAW, we are committed to providing seamless support for all your incorporation and tax compliance needs.

Through AGPLAW global network we assist seafarers with the endorsement of their national certificates of competency for service on foreign-flagged ships. This process involves obtaining recognition from foreign flag administrations, followed by an endorsement in accordance with the STCW Convention provisions. Through our global network, AGPLAW provides assistance with endorsements for Ship Security Officers as well as certificates of competency for Oil, Chemical, and Gas Tanker Operations. We also offer a streamlined process for managing Continuous Discharge Certificates (CDC) and Seaman’s Discharge Books when needed.

We handle certifications for various maritime roles, including engineers, masters, officers, ratings, and watchkeeping personnel. Our comprehensive services ensure that all necessary certifications are in place for your seafaring career.

AGPLAW facilitates the endorsement process for officers, ratings, and GMDSS personnel. Our expertise ensures that your endorsements are processed efficiently and in compliance with all relevant regulations.

We assist in the preparation and issuance of Seaman Record Books, which include essential details such as:

  • Name of the seafarer with a recent photograph
  • Age and gender
  • Identification marks
  • Nationality and address
  • Service Book identification number (unique)
  • Date and place of birth
  • Date of record issuance and expiry
  • Issuing authority’s name and rank
At AGPLAW, we are dedicated to providing comprehensive support for all your crew endorsement and certification needs, ensuring compliance and smooth operations for your maritime career.

Ship Support

Through the AGPLAW global network, we are able to facilitate radio communication services through our network’s exclusive agreement with Radio Lloyd, a Radio Accounting Authority based in Panama. Radio Lloyd acts on behalf of multiple flag administrations and provides Point of Service Activations (PSA) and LRIT Conformance Testing.

Our network services include Point of Service Activation (PSA), LRIT Conformance Testing, Inmarsat equipment procurement, and FleetBroadband (FBB). With skilled professionals both on shore and on board, AGPLAW can assist in providing integrated ship management solutions, covering class, crewing, and other technical ship management needs.

AGPLAW through its Global Network of Marine Risk Management Professionals consists of qualified and highly experienced insurance professionals, ensuring quick claim disposal and assured payments in genuine cases, in collaboration with selected insurance companies. Our insurance services include:

  • Hull and Machinery (H&M): Coverage for physical loss or damage to all types of vessels.
  • War & Strikes Risks: Coverage against war, strikes, riots, civil commotions, etc.
  • Freight, Demurrage and Defence (FD&D): Optional coverage, often an adjunct to P&I insurance, for legal defence costs.
  • Builders Risks: Coverage for physical loss or damage during a vessel’s construction period.
  • Loss of Hire: Insurance protecting ship owners against potential loss of earnings due to casualties.
  • Protection and Indemnity (P&I): Third-party liability coverage for all types of vessels.
  • Fixed Price for Blue Cards: Offering vessel Blue Cards at favorable fixed rates.

AGPLAW Global Network, in collaboration with GIMET, provides online training for shipowners' seafarers, including:

  • STCW Training: Compliance training under the Standards of Training, Certification, and Watchkeeping.
  • Non-STCW Training: Additional maritime training beyond STCW requirements.
  • COC Training: Certification of Competence training for various maritime roles.
At AGPLAW, we are dedicated to offering comprehensive and reliable services to support your maritime operations, ensuring compliance, safety, and efficiency.

Facts & Info about: Panama Ship Registration

  1. Ownership: Ships can be owned by both Panamanian and foreign individuals or companies.
  2. Company Formation: The owning company can be registered in Panama or elsewhere.
  3. Directorate: There are no specific requirements for directors to be Panamanian residents.

  1. Resident Agent: A resident agent must be appointed if the owner is not a Panamanian citizen or company.
  2. Office Address: The company must have a registered office, which can be a representative office in Panama.

  1. Annual Maintenance: Annual tonnage tax and maintenance fees must be paid.
  2. Inspections: Regular safety and compliance inspections are mandatory.
  3. Financial Statements: Not explicitly required.

  1. Tonnage Tax System: Tax is based on the ship's net tonnage rather than its profits.
  2. Income Exemptions: No tax on profits from the operation or management of a Panama-registered vessel.
  3. Capital Gains: No capital gains tax on the sale or transfer of a Panama-registered vessel or the shares of a shipping company.

  • Registration Process: The registration process is typically swift, taking a few days.

  1. Maritime Law: Governs the registration, sales, and mortgages of ships in Panama.
  2. Tonnage Tax Law: Regulates the taxation system based on tonnage rather than profits.

  1. Flag State Control: Panama ensures compliance with international maritime regulations.
  2. Reputation: Panama is on the White List of the Tokyo MoU and on the Grey List of the Paris MoU.
  3. Support Services: Panama offers comprehensive maritime services including management, legal, and logistical support.
  4. Strategic Location: Significant presence in global maritime trade routes. Panama’s strategic location offers advantages for global shipping operations.