Yacht and Vessel Registration

Panama has the largest merchant marine fleet in the world in terms of the 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 Panamanian 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 temporary radio license can be issued with minimal requirements.