November 27, 2024
  • 4:02 am COVID-19 SAFETY GUIDELINES AND REQUIREMENTS TO ENTER PANAMA
  • 6:15 am Panama sets record in newbuilding ship registration
  • 4:13 am STATEMENT – PMA SEAMAN’S BOOK
  • 6:22 am PANAMA MARITIME AUTHORITY ADMINISTRATOR MEETS WITH INTERNATIONAL MARITIME LEADERS
  • 8:07 am GOOD NEWS STARTS TO ARRIVE- AMP PRIORITIZES MAKING PANAMA A HOME PORT
  • 8:59 am NATIONAL ASSEMBLY RATIFIES LUIS ROQUEBERT AS ADMINISTRATOR OF THE PMA
Hong Kong
Panama

Advantages

Panamanian Registry offer many advantages for all ship owners who wish to register their vessels under the Panamanian flag:

Competitive Costs

Reasonable costs compared to other Jurisdictions.

Minimum Tonnage

There is no minimum tonnage required for the registration of a vessel.

No Restriction on Nationality

Any person or company are welcome to register vessels under the Panamanian flag.

Name Registration

It is possible to reserve in advance the name of a vessel under construction, or scheduled for construction, if the vessel’s name is available.

24 Hours Service by Directorate General of Merchant Marine (DIGEMAR) and Segumar Panama Office (SEGUMAR)

You may contact DIGEMAR or SEGUMAR 24 hours a day, 7 days a week for assistance.

Dual Registration Possible

Panamanian Legislation allows dual registration in the case of charter party or bareboat contract.  Where a charter party contract exists, it is possible that the vessels be registered in two jurisdictions if the government of the other country also consents the dual registration.

Fleet Discounts

When registering three or more vessels, with a combined gross tonnage of 50,000 to 100,000 GRT, a ship-owner may qualify for a discount in registration fees of 20% (up to 50% if the tonnage exceeds 100,000 GRT. Additionally, fleets whose combined tonnage is over 100,000 GRT may receive a discount of 50% of the annual tonnage tax.

Those requests are assessed, prior to registration, by the Shipping Department of the Maritime Authority, which will evaluate them on the basis of the type of vessel, the year of construction and the shipowner’s background with the Panamanian Registry.

New Built Vessels’ Discount and Vessels Under Five (5) Years Discount

With respect to new built vessel and vessel under five (5) years, Ship owners are entitle to apply for a discount on the registration fees and annual taxes for the first three (3) years of its registration in the Merchant Marine of Panama.  For more details please contact our shipping department by e-mail : shipping@panamaconsulatehk.com

Advantage of Preliminary Registration of Title /Mortgage

Preliminary registration of title/mortgage is easily accepted by US, European and worldwide banks as providing satisfactorily security.

Major Class Societies Accepted

All major Class Societies and members of IACS are authorized by Panama to survey Panamanian vessels.

Tax Advantages

Income derived by vessels engaged in international trade is not taxed by the Republic of Panama.

Vessels under Construction can obtain Provisional Registration

Vessels under constructions may also apply for the provisional registration.

© 2019 Consulate General of Panama in HK. All rights reserved.