| Panama's Ship Registry is number-one worldwide in | | | | yacht is owned by the corporation which is |
| popularity due to the ease of use and very low | | | | anonymous, the yacht ownership is anonymous. The |
| registration taxes and fees as compared to other | | | | nominee directors and your law firm (us) can handle |
| countries throughout the world. Marine vessel | | | | the transaction for you completing all paperwork. We |
| registration in Panama is widely used by international | | | | can wrap additional layers around the boat by having |
| shipping companies due to the numerous advantages. | | | | the Panama Bearer Share Corporation owned by a |
| At the time of registration all vessels must pay a | | | | Panama Private Interest Foundation which is also |
| one-time enrollment fee, based on a variable scale, | | | | anonymous, yet controllable by you. There are a |
| plus a government fee. Registration of the bill of sale | | | | number of different strategies we can employ to |
| is $0.20 per net registered ton or fraction thereof, | | | | keep the ownership of your vessel anonymous and |
| plus 20% surtax. Annual tax is $0.10 per net ton, plus | | | | confidential as a tool to protect you from kidnapping, |
| other charges. | | | | extortion, criminals and to keep your affairs private in |
| Liberal labor laws concerning Panama flag vessels are | | | | general. Panama excels in privacy. Unfortunately |
| also an important consideration, and income earned | | | | financing with conventional lenders does not work |
| on international shipping activities are specifically and | | | | with anonymous ownership strategies. If you were |
| expressly exempted from Panama income taxes. | | | | wondering when it comes time to sell the boat you |
| Yacht Registration | | | | basically just sell the corporation which owns the |
| It is possible to register recreational yachts in | | | | boat leaving the boat ownership in tact. There is no |
| Panama. This has a different pricing structure than | | | | requirement to report new owners of Panama |
| the ship registration described above. The registration | | | | corporations. |
| certificate is issued for a two-year period, which is | | | | Two Yacht-Based Panama Residency Visa |
| renewable after this period. | | | | Approaches |
| Applicable Registration Tariff:o $1,500.00 - if owned | | | | Because your yacht is owned by a Panama |
| by a foreignero $1,000.00 - if owned by a | | | | anonymous bearer share corporation and your |
| Panamanian (or a Panamanian corporation which is a | | | | investment is over $150,000, immediate residency is |
| nominal expense to arrange) | | | | granted. You must have 3 full time Panamanian |
| This tariff must also be paid upon renewal of the | | | | employees along with your company, which is easy |
| Registration. | | | | to do with the standard minimal wage at $253 a |
| Documents required for Registration: | | | | month for crew members. This would be under the |
| 1. Sale & Purchase Agreement, Bill of Sale - or if | | | | so called inversionista (business investor) program. |
| the yacht is newly built, then a Builder's Certificate | | | | However, if you invested $200,000 or more you |
| 2. Power of Attorney | | | | could qualify under the solvencia economia propia |
| 3. Deletion Certificate from previous registry (or | | | | program (person of means visa) and not even have |
| Builder's Certificate if brand new) | | | | the requirement of hiring at least three Panamanian |
| Please note: you must also comply with the Radio | | | | crewman, since it can be easily argued that you are |
| Operator requirements, in order to register the yacht | | | | buying a home, albeit a moveable one. This latter |
| in Panama. If the yacht is more than 20 years old, | | | | probably would require investing in a full time |
| then it will also be required to undergo a survey and | | | | moorage at a Panama port which would become |
| safetyinspection. | | | | your home away from home. |
| Anonymous Yacht Ownership - What is done is the | | | | Full residency with a cedula is granted after one full |
| yacht is purchased in the name of the Panama | | | | year of holding the provisional residency card and |
| bearer share corporation. The ownership of such a | | | | after 5 years full citizenship is granted! (Click here for |
| corporation is anonymous in that no ownership | | | | more details in our Panama residency section on |
| records are in any database or registry. Thus if the | | | | these two visa classifications). |