| Panama's Ship Registry is number-one worldwide in | | | | owned by the corporation which is anonymous, the |
| popularity due to the ease of use and very low | | | | yacht ownership is anonymous. The nominee directors |
| registration taxes and fees as compared to other | | | | and your law firm (us) can handle the transaction for |
| countries throughout the world. Marine vessel | | | | you completing all paperwork. We can wrap additional |
| registration in Panama is widely used by international | | | | layers around the boat by having the Panama Bearer |
| shipping companies due to the numerous advantages. | | | | Share Corporation owned by a Panama Private |
| At the time of registration all vessels must pay a | | | | Interest Foundation which is also anonymous, yet |
| one-time enrollment fee, based on a variable scale, plus | | | | controllable by you. There are a number of different |
| a government fee. Registration of the bill of sale is | | | | strategies we can employ to keep the ownership of |
| $0.20 per net registered ton or fraction thereof, plus | | | | your vessel anonymous and confidential as a tool to |
| 20% surtax. Annual tax is $0.10 per net ton, plus other | | | | protect you from kidnapping, extortion, criminals and to |
| charges. | | | | keep your affairs private in general. Panama excels in |
| Liberal labor laws concerning Panama flag vessels are | | | | privacy. Unfortunately financing with conventional |
| also an important consideration, and income earned on | | | | lenders does not work with anonymous ownership |
| international shipping activities are specifically and | | | | strategies. If you were wondering when it comes time |
| expressly exempted from Panama income taxes. | | | | to sell the boat you basically just sell the corporation |
| Yacht Registration | | | | which owns the boat leaving the boat ownership in |
| It is possible to register recreational yachts in Panama. | | | | tact. There is no requirement to report new owners of |
| This has a different pricing structure than the ship | | | | Panama corporations. |
| registration described above. The registration | | | | To learn more about Panama Corporations click here: |
| certificate is issued for a two-year period, which is | | | | To learn more about Panama Foundations click here: |
| renewable after this period. | | | | Two Yacht-Based Panama Residency Visa |
| Applicable Registration Tariff: | | | | Approaches |
| $1,500.00 - if owned by a foreigner | | | | Because your yacht is owned by a Panama |
| $1,000.00 - if owned by a Panamanian (or a | | | | anonymous bearer share corporation and your |
| Panamanian corporation which is a nominal expense to | | | | investment is over $150,000, immediate residency is |
| arrange) | | | | granted. You must have 3 full time Panamanian |
| This tariff must also be paid upon renewal of the | | | | employees along with your company, which is easy to |
| Registration. | | | | do with the standard minimal wage at $253 a month |
| Documents required for Registration: | | | | for crew members. This would be under the so called |
| Sale & Purchase Agreement, Bill of Sale - or if the | | | | inversionista (business investor) program. However, if |
| yacht is newly built, then a Builder's Certificate | | | | you invested $200,000 or more you could qualify under |
| Power of Attorney | | | | the solvencia economia propia program (person of |
| Deletion Certificate from previous registry (or Builder's | | | | means visa) and not even have the requirement of |
| Certificate if brand new) | | | | hiring at least three Panamanian crewman, since it can |
| Please note: you must also comply with the Radio | | | | be easily argued that you are buying a home, albeit a |
| Operator requirements, in order to register the yacht in | | | | moveable one. This latter probably would require |
| Panama. If the yacht is more than 20 years old, then it | | | | investing in a full time moorage at a Panama port |
| will also be required to undergo a survey and safety | | | | which would become your home away from home. |
| inspection. | | | | Full residency with a cedula is granted after one full |
| Anonymous Yacht Ownership - What is done is the | | | | year of holding the provisional residency card and after |
| yacht is purchased in the name of the Panama bearer | | | | 5 years full citizenship is granted! (Click here for more |
| share corporation. The ownership of such a | | | | details in our Panama residency section on these two |
| corporation is anonymous in that no ownership records | | | | visa classifications). |
| are in any database or registry. Thus if the yacht is | | | | |