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Maritime Law - Ship RegistrationShirley & Associates provides legal services for maritime matters of all types. These range from routine transactions, such as registration of vessels and ship mortgages, to more complex issues, including litigation, arrest of vessels, ownership transfer, finance transactions, and drafting maritime contracts or credit and security instruments.
Features and Advantages Panama’s strategic location in the maritime world and its role in international commerce makes it ideally suited to the registration of sea-faring vessels. Taking advantage of this geographical fortune, Panama enacted legislation in 1925 to promote vessel registration. Panama’s prominence as a ship registration centre has continued due to the features and advantages of its legislative framework:
Registration Process Panama offers both provisional and permanent registration of vessels. The purpose of provisional registration is to allow the title to be duly registered in the Public Registry office and to ensure compliance with other requirements for permanent registration. The patent of provisional registration is valid for three months, and may be obtained promptly from the Bureau of Vessels. Applications for the provisional license may be filed through Panamanian consulates world-wide. In such cases, the Bureau will authorise the Consulate via fax to proceed with the registration. Please do not hesitate to contact Shirley & Associates for assistance with the application for provisional registration. For more information see: Provisional Ship Registration In the 6 months following a provisional registration being granted, the Bill of Sale, or the Builder’s Certificate in the case of a newly constructed vessel, should be filed in the Republic of Panama. Following registration of these documents in the Public Registry Office, Shirley & Associates will proceed to request the issuance of the Permanent Navigation Patent (which is valid for 4 years, or 2 years in the case of pleasure craft) from the Bureau of Vessels. This patent is renewable for similar periods of time, so long as the vessel is up to date in its payment of fees and taxes and is in compliance with all applicable laws and regulations. Please note that Panama’s legislation requires that any vessel registered in Panama maintain a legal representative or registered agent locally. This agent must be an attorney or law firm. Shirley & Associates would be pleased to provide this service, acting as a liaison with the Panamanian authorities. Yacht Registration in Panama In addition to the requirements of registration, all vessels must install and maintain radio communications equipment. At the time of applying for the Provisional Registration, the vessel will be issued with a Provisional Radio License, valid for three months. It may be renewed for equal periods of time thereafter. During this period of provisional licensing, the Bureau of Vessels should receive an application for a Permanent Radio License, which would be valid for 4 years, and renewable for equal periods thereafter. Dual Registration of a Vessel Although prohibited as a general rule, Panamanian legislation does allow for dual registration in the case of charter party or bareboat contracts. Where a charter party contract exists it is possible that the vessels be registered in two jurisdictions, provided that the government of the other country also consents to the dual registration. The validity of this Special Navigation Certificate may be extended beyond the initial 2-year period if the charter contract exceed this period or is extended or renewed. All vessels subject to dual registration are subject to the laws of Panama with respect to safety and other operational matters, but remain subject to the laws of the country of original registration with respect to rights of ownership, ship mortgages or liens, and the payment of taxes. This also applies in a reciprocal fashion, so that where a vessel is originally registered under the Panamanian flag, it may be registered in a second jurisdiction where the other government consents to the same. Vessels which are registered in this manner remain subject to all legal and fiscal laws of Panama, and all title deeds and mortgages thereon must be registered here. Panamanian laws also regulate the registration of mortgages. A mortgage is only valid against third parties after its registration in the Public Registry Office. In order for it to be registered, the document should be duly authenticated by a Panamanian Consulate or by Apostille, although it may be written or executed in any form or language. It is possible for it to be executed in accordance with the formalities of the country of execution, insofar as it is later authenticated for registration. A mortgage may include any provisions which the parties deem convenient, but should definitely include the following information:
Please contact Shirley & Associates for assistance in the drafting and registration of a ship mortgage. Other services: Shirley & Associates is also pleased to assist in any of the following matters:
Panama has established a specialised maritime tribunal to deal with complicated maritime disputes. Whether these involve vessels, breach of charter agreements, contractual or labour disputes, or damages to cargo or valuables during shipping, experts are available to speedily resolve the dispute, thus ensuring the continuation of trade internationally. Panama retains jurisdiction in arrest cases to resolve the principal dispute. Shirley & Associates has experienced attorneys that can assist in maritime litigation of any type, including:
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