The Republic of Panama has a very important role in maritime trade due to the different advantages and favorable laws, highlighting mainly the Panama Canal; our country as a logistics hub due to its geographical position and the merchant marine occupying the first place in flagging ships and pleasure yachts for more than 27 consecutive years.
Our team of professionals is recognized in this branch of law advising shipowners, financial entities, insurers and other international clients for advice and management in the sale of ships and pleasure yachts, ship registration, registration of naval mortgages, maritime litigation, among others. other services.
The Maritime Court of Panama was created by Law 8 of March 30, 1982 modified by Law 11 of May 23, 1986 and 12 of January 23, 2009 (single text). Before that date, the maritime jurisdictional function in the canal area was exercised by the District Court of the Canal Zone of the United States of America. As a consequence of the Panama Canal Treaties entered into between the United States of America and the Republic of Panama in 1977, the jurisdictional functions of the aforementioned Court were transferred to Panama as of April 1, 1982.
The Maritime Court of the Republic of Panama plays a very important role in the global maritime scene regarding the transit of ships through the Panama Canal. However, the Maritime Procedure Code offers certain advantages with respect to claims arising from maritime commercial acts that can be settled in the Panamanian Maritime Courts. Normally, claims are initiated through the hijacking of a ship that is going to transit, or is in transit through the Panama Canal or simply arrives at a port facility in Panama or territorial waters.
Arrest Of Vessels
One of the main characteristics of the Code of Maritime Procedure (Law 8 of March 30, 1982 modified by Law 11 of May 23, 1986 and 12 of January 23, 2009 (single text), is that the action of kidnapping It is done for the following purposes:
- To make effective privileged maritime credits on the ship, cargo or freight, labor claims, collisions and salvage.
- To assign jurisdiction to the Maritime Court over acts of commerce and maritime transport that have occurred outside the jurisdiction of the Republic of Panama, when the defendant is not subject to the Court’s jurisdiction.
- As a preventive measure to prevent the judgment from being illusory in its effects.
If you have a Maritime Credit of Claim and need to arrest a vessel in Panama please contact us to our 24hrs phone +507 6472 3524. Our maritime courts works on a 24hrs basis including weekends.
Vessel And Yacht Registration
The Panamanian Ship Registry has led the registration of ships worldwide for more than 27 years, thus being the largest Ship Registry in the world, Considered by shipping companies and financial entities as a registry of high quality and efficient, thus promoting shape global trade.
Among its advantages are:
- There are no restrictions regarding nationality: Any natural or legal person can register their ships under the Panamanian flag.
- Tonnage: No minimum tonnage requirements
- Registration Types: Parallel Registration (Double Registration or Dual Registration) provisional or permanent.
- Up to 60% discount for special fleet / Economic Group.
- Up to 100% discount for newly built ships.
- 15% for ships registered in Panama, based on good performance (State Governing Port).
Global office network:
- The 24/7 availability of SEGUMAR – PANAMA
- Nine (9) Regional Documentation Offices for Seafarers and 60 Private
- Merchant Marine Consulates.
- More than 200 flag inspectors.
Vessel And Yacht Registration In Other Jurisdictions
Perez-Carrera & Co, through its wide range of correspondents, offers flag services for ships and pleasure yachts in other jurisdictions, as well as the necessary advice to obtain the relevant technical certificates in the following jurisdictions:
- Belize Islands (BVI)
- British Virgin
- Cayman Islands
- St. Kitts and Nevis
As one stop Maritime service provider we also assist in:
- The Classification and certification of vessel through a well reputable Recognized Organization authorized by more than 23 flags and surveyors all over the world.
- Protection and Indemnity (P&I) insurance and Hull and Machinery Insurance (H&M).