SHIP AND YATCH REGISTRATION

1. A newly constructed yacht
2. A used yacht or such that has had another owner or has been registered elsewhere before.

1. Fill in the enclosed application form. Please note that yachts don’t have so much info as is included in this form, however just fill in the most basic info and the job is almost done. 
2. Before we continue with the application form here in Panama, we check to see if the name you have chosen is available, otherwise we inform you and provide you with some alternatives.
3. After this, we apply for a provisional registration which has a validity of 6 months.  In this period, a Provisional Patent and Radio License are issued.
4. During this 6 months, we need to present original documents to obtain the permanent patent with a validity of 2 years (normal vessels is 4 years).
5. TAXES:  Also important to know, is that yachts only pay taxes once every 2 years and the amount is fixed at US$1,000.00.
6. NOTE: Panama does not have any restriction as to ownership nationalities.
7. Original measurement survey is not required in Panama.
8. Also in most cases, yachts don’t need to make contracts with Radio accounting entities and by law it is permitted here in Panama that the owners be responsible for radio communication. This means that you only need to provide the type and brand of radio equipment on board.  Example: Foruno 234 C . VHF.

1. Power of Attorney with Apostille (see enclosed draft)
2. Original or certified true copy (Apostille) of BOS, whereby the vessel is owned by the applicant or transferred to the new owner that is applying for registration. In some cases, not necessarily the yachts change owner when being transferred to a registry, so the existing ownership title or bill of sale is more than enough. 
3. Original or certified copy (Apostille) of the construction certificate in case the yacht is newly constructed.
4. Sometimes when yachts are very big, for example over 100 feet, the PMA ( Panama Maritime Authority)  may ask for ITC (International Tonnage certificate) or other documents, also for RAA (radio accounting company) and other matters, but don’t worry this is just as reference.
5. Finally, an original DELETION certificate if the yacht is not newly constructed or has been already registered in a previous registry.  (NOTE: This deletion is not necessary for provisional registration.)

• Fees payable to Panama Registry: US$1,500.00 (If the owner is not a Panama Company)
• Fees payable to Panama Registry: US$1,000.00 (If the owner is a Panama Company)
• Our legal fees: US$1,250.00
• Our administrative expenses: US$250.00
• Includes a newly formed all inclusive Panama offshore company to act as owner or new owner
• Annual renewal fees to be paid after the second year of the company (all included): US$750.00 

CORPORATE KITS - Include:

• Articles of Incorporation in English and Spanish (Notarized and legalized by Apostille)
• Appointment of First Directors
• Nominee Directors (if applicable)
• Nominee shareholders (if applicable)
• Shareholder certificates
• Minutes’ Books
• Share Registry’ books
• One Power of Attorney in English and Spanish (Notarized and legalized by Apostille)
• Certificate of Incumbency
• Certificate of Incorporation
• Trust Agreement (when applicable)
• Minutes and/or Board Resolutions when requested 
• Corporate Seal
• Corporate kit attached