The ownership of title can be done in your name or through a corporation in Panama. Read more about corporations in http://www.chenleeyasociados.com/sociedades-offshore.html .
The registration of ships may be international service and local service.
You could register all kind of types of pleasure vessel (yachts, sail boats) in the Merchant Marine Directorate. The regulatory navigation license and radio regulatory license of pleasure vessel (yachts, sail boats) will last two years.
The request for the registry of an international service pleasure vessel (yachts, sail boats) in the Merchant Marine shall have to be accompanied by the following documents
1. Original of the appointment instrument of the Resident Agent granted by the owner, which if issued abroad must be duly authenticated.
2. Prime facie evidence of the ownership of the vessel or the intention to acquire such property.
3. Proof of payment of duties, government taxes and the corresponding rights.
4. Any other additional document that the General Directorate of Merchant Marine requires.
At the request of the interested party, the General Directorate of Merchant Marine may waive the presentation of any of the before mentioned documents at the time of presenting the flagging request for its later presentation in a period not greater than thirty days.
Accepted the flagging request and all the rights, duties and corresponding taxes paid, the General Directorate of Merchant Marine shall issue a title deed as evidence of the registration of the vessel in the Merchant Marine of Panama, which shall have all the particularities of the ship that the General Directorate of Merchant Marine deems appropriate. Also, the General Directorate of Merchant Marine shall proceed with the issuance of the corresponding Patent and Radio License, if the vessel is able to sail. In order to obtain the regulatory navigation rights, the following documents shall be submitted:
1. Proof of registration of the ownership title of the vessel in the Public Registry of Panama.
2. Original of the appointment instrument of the Resident Agent of the ship, which if issued abroad must be duly authenticated.
3. Original or notarized copy of the cancellation certificate of the previous record or certificate of construction, in the case of vessels of new construction, or document evidencing the judicial sale, which if issued abroad must be duly authenticated.
4. Certificates and technical and security documents that the General Directorate of Merchant Marine requests in connection to the type of the service of the ship, its shipment and other pertinent considerations.
5. Proof that the ship has fulfilled satisfactorily the requirements of inspection demanded by the General Directorate of Merchant Marine. 6. Proof of payment of the applicable rights.
7. Any other requirement that the General Directorate of Merchant Marine requests.
The local service vessels shall not require submitting the appointment document of the Resident Agent referred by numeral 2, when the flagging request has been presented directly by the owner.
In order to obtain the regulatory radio license, the ship shall have a certificate of discharge, have its technical documents in effect and submit:
1. Application form of the radio license duly completed.
2. Proof of payment of the applicable rights.
3. Any other document or information that the General Directorate of Merchant Marine requests.
If you wish to renew the patent and radio license, please contact maritime@chenleeyasociados.com or call (507) - 360-5533.
The request for the registration of a local service pleasure vessel (yachts, sail boats) shall be accompanied of the following documents:
1. Diligence of registered tonnage and appraisal.
2. Prime facie evidence of the ownership of the vessel or the intention to acquire such property.
3. Original or notarized copy of the construction certificate or proof of the cancellation certificate of the previous record of the ship, which if issued abroad must be duly authenticated. At the request of the interested party, the General Directorate of Merchant Marine may waive the presentation of this requirement at the time of presenting the flagging request for its later presentation in a period not greater than thirty days.
4. Proof of payment of import taxes or proof of the presentation of the guarantee that corresponds before the General Directorate of Customs, or the document that records the exoneration of the import duty, if it is the case.
5. In the case of vessels that are engaged to noncommercial activities, original of an Affidavit of Private Use, which certifies that the vessel shall not be used for commercial purposes, if issued abroad, it must be duly authenticated.
6. Any other document that the General Directorate of Merchant Marine requests.
Accepted the flagging request and all the rights, duties and corresponding taxes paid, the General Directorate of Merchant Marine shall issue a title deed as evidence of the registration of the vessel in the Merchant Marine of Panama, which shall have all the particularities of the ship that the General Directorate of Merchant Marine deems appropriate. Also, the General Directorate of Merchant Marine shall proceed with the issuance of the corresponding Patent and Radio License, if the vessel is able to sail. Every local service vessel must have applicable certificates of marine security, issued by the General Directorate of Merchant Marine or by an authorized organization recognized by the Maritime Authority of Panama for such purpose.
In either of the two services, either international service or inside service, depending on the type of service of the ship, shall provide the Affidavit of non-commercial use in attesting that the ship will not be used for commercial purposes. If the Declaration is issued abroad, the document must be legalized by the consulate.
FOR MORE INFORMATION, please contact maritime@chenleeyasociados.com or call us at (507) 360-5533.
