Among all the flags you could choose for to register your yacht, Panama yacht ensign is the preferred option for most yachtsmen. Not only the Panama’ yacht ensign provides the advantages of a tax efficient and stable jurisdiction, it is a recognized flag worldwide which enable flexible management and use of your yacht, either for your own private use, chartering or professional operations. Registering under Panamanian flag enables the yacht owner, agents and operators to enjoy the favorable personal and corporate tax laws of Panama.
Our team could assist not only with the registration of your yacht under Panama yacht ensign, but also obtain the radio call signs and related services as well set up for you any holding company in this jurisdiction if required.
Why Panama ?
Situated at the center of the American Continent the Republic of Panama links the two oceans with one of the world’s great inter-oceanic waterways, The Panama Canal. Panama has become a prominent jurisdiction in the international maritime community administering one of the world’s largest fleet of vessels. Its status offers many advantages both to the ship-owners and to mortgages.
Between these advantages, we must note the incentives regarding the fiscal laws of Panama. All the activities of vessels registered in Panama done outside the country are not subject to income taxes or any other levy.
For more than 70 years, the Republic of Panama has offered various facilities for the registration of vessels engaged in all type of maritime activity.
WHAT KIND OF VESSELS CAN BE REGISTERED IN PANAMA?
- General cargo ships of unlimited tonnage;
- Yachts of up to 3000 gross tons; and
- Vessels previously covered under Category 2.
- Recreational craft and yachts of up to 400 gross tons (about 45m in length);
- Cargo and commercial craft of up to 150 gross tons (roughly 24m in length); and
- Domestic passenger ships on domestic voyages.
Our team of professional yacht agents will happily guide you to decide on the best suited flagging options for your yacht, based on the intended use of the vessel (private use, charter, VAT reclaim, export, …) as well other parameters such as taxes, insurance, mortgages and loans, boat & yacht finance and refinancing, all to fit with your personal circumstances.
While we are happy to register your vessel in the country of your choice, including through purpose-built holding companies and tax efficient ownership legal structures if necessary, we do have Memorandum of Understanding (MoU) to enable fast track registration with the following commercial ships and pleasure yachts registries: