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The Republic of Panama operates the largest ship registry in the world, and for good reason. The Panama flag offers international recognition, an efficient territorial tax framework, a mature legal system for owners and financiers, and a registry experienced in every vessel type — from bulk carriers and tankers to container ships, offshore units and private yachts. But capturing those advantages depends on handling the Panama Maritime Authority (Autoridad Marítima de Panamá, "AMP") procedures correctly the first time. That is precisely what our maritime department does, every day.
Since its inception, Gerli & Co. has acted for an extensive base of shipowners, banks, brokerage firms, operators, ship-management companies, charterers, builders, yacht manufacturers and demolition companies. The Gerli brand is a guarantee that a qualified practitioner is present at every stage — from initial registration through every certification, inspection, exemption and, ultimately, deletion — until full compliance is met.
Below is the complete framework we manage on your behalf.
Registration begins with the provisional stage, which gives the vessel the legal authority to sail under the Panama flag almost immediately while the permanent documentation is completed. Our team assembles and reviews the full file:
On validation, the AMP issues the Provisional Navigation Patent (Patente Provisional de Navegación) and the Provisional Radio Licence, granting full authority to navigate under the Panama flag for an initial period of six (6) months. In practice, where the file is in order, provisional documents can be issued on an urgent basis — a decisive advantage when a closing or delivery is time-sensitive.
Within the six-month provisional window, the ownership title must be perfected on the public record. Our legal team translates, notarises, legalises and registers the Bill of Sale or Builder's Certificate before the Public Registry / the AMP's ship registry section, establishing clean, recorded title under Panamanian law.
Once title is recorded, we apply for and secure the Permanent Navigation Patent and the Permanent Radio Licence. Validity periods are set by vessel class and regulation — commercial vessels and pleasure yachts carry their own renewal cycles — and our office calendars every expiry so the vessel never lapses. (We confirm the exact, current validity period and any age-related conditions for your specific vessel type at the outset, because these are periodically updated by the AMP.)
Registration is not a one-time event; it is an ongoing obligation. As your resident agent and registered representative, Gerli & Co. keeps the vessel in pristine standing: annual tonnage taxes, consular and registry fees, statutory renewals and regulatory filings are processed accurately and on time. We also manage the events that arise across a vessel's life under the flag — changes of ownership, name or class, mortgage registrations and discharges, exemption and dispensation letters, ASI (Annual Safety Inspection) coordination, and, at end of service, the deletion of the vessel from the registry.
Panama is an open registry: ownership is not restricted by nationality. A vessel may be owned by a Panamanian or foreign individual or, more commonly, by a corporation — Panamanian or foreign. Where a corporate owner is preferred, we can incorporate a Panama S.A. or another suitable vehicle in parallel. The precise file depends on whether the vessel is newly built or second-hand, and whether it is re-flagging from another registry, but the core requirements are consistent.
Once title is recorded, the Permanent Navigation Patent is generally issued for five (5) years for commercial vessels and two (2) years for pleasure yachts, and is renewable. Vessels above a certain age — and certain types, such as tankers and bulk carriers — may be subject to a special entry inspection by an AMP-authorised inspector before or shortly after registration. Because the AMP updates these age thresholds, inspection rules and validity periods from time to time, we confirm the exact, current conditions for your specific vessel at the outset, so there are no surprises.
Our all-included maritime practice routinely handles:
Vessel and yacht registration (provisional and permanent), and re-flagging.
Bareboat charter (in and out) registration.
Drafting and registration of naval mortgages and share-pledge agreements.
Sale-and-purchase support: legal opinions, bills of sale, acceptances of sale, protocols of delivery and corporate closings.
Statutory and flag certificates, radio accounting, ASI inspections and dispensation / exemption letters.
Deletions, deregistration certificates and "clean" registry confirmations for buyers and financiers.