Permanent and Temporary Vessel Registration
Before issuance of Permanent registration of the boat, the registrant receive provisional ship registration certificate for the period of 6 month to let registrant prepare all necessary document for proceed with permanent ship registration. This type of registration grants the license to use the radio for 6 month period accordingly.
The list of document required for applying for permanent ship registration certificate:
- Title deeds: deed of purchase (Bill of Sale) or Certificate from a yacht builder (Builder's Certificate), if the boat is new;
- The power of attorney to the agent for registration of a yacht in Panama;
- Radio Authority, type of the ship, dimensions etc.
After submitting the above documents the filed Certificate of exclusion from the previous yacht Registry (Deletion Certificate) is required if applicable.
In conclusion, after the purchase of yachts abroad we would suggest that you make your decision in favor to Panamanian open registry to make the registration process with the least expenditure of time and expense.
Initial registration of yachts in Panama.
You have built or bought a yacht and are ready to discover the sea. However, in order to easily take a trip, you need to register and insure your boat. Take advantage of the right to register your sailboat or the yacht under the flag of the State in which registration process will run smooth and with less time and money consumption.
Friendly jurisdictions for the registration of yachts and boats are: Panama, British Virgin Islands (BVI), Jersey, Moldova and others.
Panama leads the world in the number of vessels registered under Panama flag. In Panama, operates an open ship registry, so the owner of the yacht, registered under the flag of Panama, may be any natural or legal person, regardless of nationality. In Panama there are no restrictions on the age and tonnage of registered boats.
The procedure for registration of boats in the open registry of Panama, is quite simple and provides temporary registration and permanent registration.
The advantage of registering boats under the flag of Panama, is the lack of requirements for classification and certification of recreational vessels. Consequently, there is no need to provide evidence of a classification society, as well as in the passage of the annual surveyor examination.
British Virgin Islands. A similar procedure is applied for registration in the BVI, however, the procedure adds the harmonization of the classification. In 2009, the ship's registry BVI completed a three-year program to raise standards and become a category of Registry. Ship's Registry BVI abolished virtually all restrictions imposed on the registered vessels, yachts (limitations in terms of tonnage, dimensions, etc.) and expanded the possibilities for recording all types of vessels. Ships registered in the British Virgin Islands, receive British ensign.