DESCRIPTION:
It is possible to register recreational yachts in Panama. This has a different pricing structure than the ship registration described above. The registration certificate is issued for a two-year period, which is renewable after this period.
Applicable Registration Tariff:
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$1,500.00 - if owned by a foreigner
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$1,000.00 - if owned by a Panamanian (or a Panamanian corporation which is a nominal expense to arrange)
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This tariff must also be paid upon renewal of the Registration.
FORMS:
Documents required for Registration:
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Sale & Purchase Agreement, Bill of Sale - or if the yacht is newly built, then a Builder's Certificate
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Power of Attorney
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Deletion Certificate from previous registry (or Builder's Certificate if brand new)
Please note: you must also comply with the Radio Operator requirements, in order to register the yacht in Panama. If the yacht is more than 20 years old, then it will also be required to undergo a survey and safety
inspection.
