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