ene 06 2011

Panama

Fidelitas7 @ 15:13

Yacht registration in Panama

Key Registry Features


	General

	Flag of Convenience		Yes

	IMO Conventions Adopted		All the principal IMO Conventions have been adopted

	Age Limit		None

	Size Restrictions		None

	Ownership Requirements		There are no local ownership requirements however, a legal representative in Panama must be appointed.

	Registration Documents

	Documents Required		A Deletion Certificate (if applicable) Bill of Sale / Builders Certificate Power of Attorney (notarised & legalised) appointing Panamanian legal representatives Tonnage Certificate Certificate of Survey for vessels 20 years or older from an approved Classification Society Radio Licence All Safety Certificates

	Registration Fees

	Registration		Vessels up to 2,000GT: US$ 500 2,001-5,000GT: US$ 2,000 5,001-15,000GT: US$ 3,000 15,001 or more: US$ 3,000 plus US$ 0.1 for each additional GT to a maximum US$ 6,500

	Annual		Annual Tonnage Tax is charged at US$ 0.10 per NT or fraction plus an annual single rate (US$ 850-3,000) and an annual inspection fee (US$ 500-1,300) which varies according to the type of vessel.

	Parallel Registration

			Parallel registration in or out of the Registry is permitted for a period of up to 2 years

	Approved Classification Societies

			ABS, BV, CCS, DNV, GL, LR, NKK, PRS, RINA, RS, HRS, KRS, YRB

	Crew Nationality

			No restriction on nationality but crew certification may be required