Vessels registration under Panama Flag

Home Maritime Law Vessels registration under Panama Flag

Some of the most relevant features that have taken the Panama Registry to the helm of the open registries of the world, or most preferred open ship registry within ship owners are in fact those that facilitate the registry process , without jeopardizing safety and maritime security at sea.

Among the most relevant we have :

No restrictions as to age of the vessel
No pre inspection survey (yachts)
Open nationality without restrictions for ownership
Broad number of authorized classification entities
Low registration fees
Low annual tonnage taxes

The process for registration of a vessel in Panama shall initiate, firstly with:

Confirmation of the availability of the name. Before registering a ship, the name with which it wants to be registered shall be checked with the Panama Maritime Authority , same must be free or not have been used by another vessel .
Filling in all the vessels data through an application form in three main routes, first using the “token PKI “ online system or through the ship owners local lawyers or legal representatives before the Panama Maritime Authority / General Directorate of Merchant Marine in Panama, or before a Panama Maritime authorized General Consulate. For this purpose Panama has Consular offices in most Port cities in the world, such as Rotterdam, Singapore, Hong Kong, Piraeus, among others.
Once the application form has been submitted to Panama Maritime Authority, payment for the registration will be executed in accordance with the chart that is available at the www.segumar.com web site which shall indicate the costs according to the tonnage of the vessel, immediately after this step has concluded, the initial registration will be concluded with the issuance of the Provisional Patent of Navigation valid for 6 months and the Provisional Radio Station License, valid for three months registration. The complete procedure should have a duration of no more than 48 hours, provided all documents submitted with the application have been accepted diligently by the registry officials, meaning that all sustaining documents have been found ion order .
Full term Navigation Patent. The provisional patent of navigation is issued for a 6 months period. During such time the ownership title or Bill of Sale must be duly recorded in the Naval section of the Public Registry of Panama. The registration of the ownership title is an essential requirement so that the vessel may obtain its Statutory Navigation Patent ( full term patent ) which has a duration period of (5) years and (2) years in the case of pleasure yachts.
Mandatory documents to be submitted to obtain a full term registration:

Documents related to the ISM CODE (copies are acceptable) “Safe Management Certificate” (SMC) and the Document of Compliance(DOC)
Original of the Deletion Certificate from prior registry or new construction certificate or judicial sale (assignment of the vessel title by a court on favor of the owner) Legalized by apostille or at a Panama Consul abroad
Document evidencing that the applicant holds the ownership of the ship to be registered, For example a copy of a patent of navigation from prior registry or a copy of a Continuous Synopsis record (CSR) Legalized by apostille or at a Panama Consul abroad
Power of Attorney appointing GERLI & CO. , as resident agent in Panama
Description of type of vessel ( Dry Cargo, Bulk Carrier, Tanker, etc.)
Applicable technical Statutory Certificates, depending on the type of vessel:
1. CSR – Continuous Synopsis Record
2. SMC – Safety Management Certificate
3. IOPP – International Oil Pollution Prevention
4. ISSC – International Ship Security Certificate

Provisional Radio License. It is a legal requirement that the ships under Panamanian. Registry must carry on board a Radio License issued by the Government of Panama. To that effect, the corresponding application must be filled in, and may be filed through the Panamanian Consulates abroad or through our offices in the city of Panama together with the provisional registration application. The provisional license shall be valid for six (6) months.

Oleg - Klaipeda
I have worked with Gerli & Company for a number of years and have known Ismael Gerli, for over a decade. When it comes to detail, no questions to be asked, Ismael Gerli, knows how to run ships in rough waters. Thumbs Up
Well-known reputation
I was very pleased that I chose Gerli & Company some two decades ago, to represent me in my companies spin off, ever since we have set up and organized both onshore and offshore structures through Gerli & Company, whom have proven highly skillful. Our group exceeds 100 corporate structures and Panama Private Foundations. Their credibility and well-known reputation has been key to our success.
Attention to detail
I have worked with Gerli & Company for a number of years and have known Ismael Gerli, for over a decade. When it comes to detail, no questions to be asked, Ismael Gerli, knows how to run ships in rough waters. Thumbs Up
Very professional and proficient
I have the utmost appreciation and respect for the Gerli & Company Law Firm. Our case was complex and it included a number corporate structures and registration of vessels in four flag registries. There were multiple lawyers and paralegals assigned to us, from both Panama and Miami office. All with whom I communicated with was indeed professional and proficient in their role. They definitively exceed the expectations of their clients. The team worked earnestly towards structuring what we needed, a strong validation as well for the Gerli team in Ft Lauderdale and Marshall Islands Registry staff.
Sound guidance
I contacted Gerli & Company based on their stellar reputation supporting real estate and second citizenship program immigration process in Dominica. Ismael Gerli, and his team provided sound guidance when addressing my request on application and additional requirements. They were truly committed, treated me professionally, and most importantly provided realistic expectations masterfully. Thank you Ismael and staff for your overwhelming support and final success on our application, both Katerina and myself are grateful and happy with our new passport.
Extremely knowledgeable and professional
I worked with Gerli & Company team on an Maritime labor dispute within our hear office in Panama City, involving gender grade group assignment. I am certain the firm had many other cases, however, I felt like I was a priority to the firm, and mostly to the staff assigned to our case. We had 24/ 7 communication while we visited Panama, they were reachable at all times and worked hand to hand with me during the entire process. Staff members, and legal assistants to the partners, had cutting knowledgeable and professionalism at its best. Without question, what was perceive as unpleasant, became more tolerable.