Any ship may be registered provided it complies with the minimum seaworthiness, safety and environmental conditions required by international conventions. However, ships over 20 years old are subject to a special inspection before being granted a statutory certificate of registry.
REGISTERING A VESSEL IN PANAMA INVOLVES TWO STEPS
A. The Provisional Navigation Registration can be processed and approved if you send fax us copies of the necessary documents. The time frame is approximately 2 to 3 business days.
The Maritime Authority of Panama will issue the Provisional Navigation License, valid for 6 months (renewable). The Provisional Radio License is valid for 3 months. The Provisional Navigation License may be renewed for an additional 3-month period upon payment of a penalty fee ($500.00).
B. The Permanent Navigation Registration can be processed as soon as we have the original copies of the documents required. The time frame is approximately 5 to 7 business days. The Permanent Navigation License may be issued by the Maritime Authority of Panama valid for 4 years (renewable).
YATCHS REGISTRATION
Panama is the most widely chosen jursidiction for yacht and ship registration in the world. The Panamanian Ship Registration Laws offer very flexible terms and affordable costs for maritime vessels registered in the Republic of Panama. Any yacht or pleasure vessel, or vessel qualified as such by IMO, may be registered for a two (2) year renewable period. One of the advantages for registering pleasure yachts is that there is a flat registration fee, regardless of the size or tonnage of the marine vessel.
For Panamanian owned yachts (the yacht is property of a Panama Company or a private interest foundation), the registration fee is of US$1,000.00. It is to be paid every two years, time upon which navigation documents will also be renovated.
The documents required are as follows: bill of sale, admeasurement certificate, cancellation of previous registry (if it is not a new building) and power of attorney. Yachts that are not property of a Panamanian legal entity pay US$1,500.00 to register.
Transit registration: Allows registration of a vessel for a non-renewable period of three (3) months, provided that said vessel of international service will be used for delivery voyages or any other modality of temporary navigation.
SHIP ARREST
The growth of Panama 's Register of Shipping has also increased administration and litigation work for some lawyers. Management of the register is now handled by the Panama Maritime Authority, but the legal aspects of registering a vessel, arrest and litigation work are still handled by lawyers or law firms. The Panama Maritime Court has exclusive jurisdiction in arrest regarding claims brought against ships or their owners, or when vessels are arrested within Panamanian jurisdiction as a consequence of such claims.
Access to the Panamanian courts is free. There is no charge to the Panamanian government for use of its facilities. The arrest of a vessel is regulated in Article 164 of Law No. 8 of March 30, 1982, also known as the Maritime Procedure Code and the Commerce Code of Panama.
CREW CERTIFICATION
Authority Panama Maritime will issue an endorsement for all seafarers aboard a Panamanian registered vessel. This endorsement grants the same capacity, function, level, limitations and validity of the Licence attached to the endorsement of a Panamanian Certificate.
In accordance with International Maritime Organization regulations (Chapter 5, Regulation 13 of SOLAS 74, and STCW 78/95(, officers and crew members aboard Panamanian vessels must possess valid documentation establishing their professional qualifications.
Nationals of a White List country have to seek direct endorsement of their home license, while residents will have to demonstrate additionally that they were trained in a center recognized by the maritime administration of their White List country.
Issuing of the Transitional Certificate allows officers and ratings to work aboard a Panamanian vessel for a period no longer that 90 days with their home country licence.
To be revalidated, any License must have been issued by the Maritime Authority of a country within the "White List" published by the International Maritime Organisation.
The Panamanian goverment is in the process of elimination issuing officers' certificates. New examinations are being devised for officers who are allowed to sail without a certificate on some ships of less than 200 gross tons.
The Panama Register (created Law No. 8 of 1925) is the largest and one of the oldest open ship registers in the world. Panama has maintened its position as the country with the largest merchant fleet in the world ahead of Liberia, the main competition, and Bahamas. There are 11,312 ships under Panamanian flag. Official estimates indicate that the Panamanian fleet has grown to 151.1 millions gross tons. A new report emphasizes that the new registration for the year 2004 experienced a growth of 1,019 ships. Most of these ships are involved in commercial activities. Commercial ships represent 99 percent of the the panamanian merchant fleet.
According to official estimates, nearly 60% of new ship constructions enter the Panama Shipping Registry.
The Panamanian Government has recently increased the number of ports available for inspection and improved the process of checking registration applications. The Port Authority indicates that in 2004, there were 4,739 internationational ship safety certificates issued under the Ship and Port Installation Security Code ISPS (required by the international Maritime Organization).
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