The flag or registration of a ship is a legal act by which the Republic of Panama admits that ship as part of the National Merchant Marine, at the request of its owner, after fulfilling the requirements of this Law Note that all ships registered in the Panamanian Merchant Marine is subject to completion of the Panamanian law, wherever you are.
Here below please find the details of the required documents for vessels registration under the Panamanian Flag:
– Particular Details of the Vessels:
- Owner’s details;
- Details of the Operators of the vessel;
- Type of Vessel
- Hull material
- Name of the Builder
- Place of Construction
- Year of Construction
- Gross Tonnage
- Net Tonnage
- Number of Engines
- Number of Cylinders
- Horse Power (HP or KW)
- Name of the engine builder
- Radio Accounting Authority
– Power of Attorney duly notarized and authenticated.
– Vessels above 500 Gross Tonnage require the following certificates from the previous registry:
- DOC -Document of Compliance;
- SMC – Safety Management Certificate;
- ISSC – International Ship Security Certificate;
- CSR – Continuous Synopsis Record;
- ITC – International Tonnage Certificate;
– Vessels which are oil Tankers require the following:
- General Arrangement Plan;
- IOPP (International Oil Pollution Prevention Certificate) + Supplement of the International Oil
- Pollution Prevention Certificate
- Declaration of trading Carrying heavy grades of oil defined by Marpol ( Declaration of the Owners for the product that the vessel will carry)
- Ship Security Plan Approval (SSP)
After the flag registration, Panama Merchant Marine will issue provisional Patent of Navigation and Radio License valid for six (6) months period of time that we have to collect other additional documents (described here below in details) in order to obtain the Full Term Patent and Full Term Radio License valid for five years.
- Original Bill of Sale & Acceptance of Sale (duly notarized and authenticated); (if the vessel will be registered with the actual owners this document is not necessary)
- Radio License Application Form (attached herewith);
- Deletion Certificate (duly notarized and authenticated);
- International Tonnage Certificate as per 1969 convention duly endorsed by Segumar Panama;
- Vessel over 20 years, 20 years survey report is necessary;
- If the above mentioned documents are not completed, we can apply for extensions of the provisional documents in order to have additional time to collect the necessary documents for the Full Term Patent of Navigation and Radio License.
- Here below please find the details of fees and costs for handling such petition:
- It requires a payment to PMA rights for extension of the Provisional Patent of Navigation (per month).
- Anther payment to PMA rights for 3 months extension of the Provisional Radio License.
Additional to the above mentioned costs be informed that Panama Maritime Authority imposed a fine that must be paid only for the first extension of the Provisional or Full Term Patent for Navigation.
For future extensions, Panama Maritime Authority will request evidence that confirms the reason why the vessel still for extensions of the Provisional Patent of Navigation and Provisional Radio License.
- Provisional Registration
Provisional Registration certificates are given for a period of 3 months, and are principally for the following purposes:
- Temporary Navigation (such as trial runs before purchase)
- Delivery of the Vessel
- Last trip for Demolition of the Vessel
Provisional Registration may not be extended, but it may be converted into Definite Registration, as long as the client pays the difference in the registration fees and taxes.
Upon the expiration of the 3-month period, the provisional registration is automatically cancelled.
Documents which should be presented:
- DOC & SMC (if applicable)
- Confirmation to SecNaves of the International Radio Operator
- Copy of the Power of Attorney (to Shirley & Associates) and of the Sale & Purchase Agreement
Applicable Taxes for Provisional Registration:
- US$0.40 per net ton or part thereof (a minimum charge of US$300.00)
- Pleasure Yatchs – Registration under Panamanian
It is possible to register Pleasure Yachts in Panama. This has a different pricing structure from Ship Registration.
The Registration Certificate is issued for a two-year period, which is renewable thereafter.
Applicable Registration Tariff:
- $1,500.00 – if owned by a foreigner;
- $1,000.00 – if owned by a Panamanian (or a Panamanian corporation)
This tariff must also be paid upon renewal of the Registration.
Documents required for Registration:
- Sale & Purchase Agreement
- Power of Attorney (to Shirley & Associates)
- Deletion Certificate from previous registry (or Builder’s Certificate)
- “No Use Declaration Letter”
Please note: you must also comply with the Radio Operator requirements, in order to register the yacht in Panama. See Inter-Mar Radio, Inc. for a qualified radio authority.