About
Panama

PANAMA: MUCH MORE THAN A CANAL

Panama is world famous for it’s 48 mile canal that connects the Pacific Ocean with the Atlantic Ocean. Each year over a million people visit the canal and are able to witness this engineering marvel at work. Panama is very proud to have this magnificent creation operating 365 days a year, enabling the world’s cargo to be shipped efficiently and safely to new destinations.

Three million years ago, the Isthmus of Panama, emerged from the sea and changed the world forever. It divided an ocean and joined two continents, triggering one of the most important natural evolution events in the history of the world. Today, this narrow land bridge in Central America is home to more species of birds and trees throughout North America. We invite you to discover its beautiful landscapes, rich culture and endless tourist activities that are at your fingertips.

What to do in Panama

Some of these activities include rainforest tours, surfing, snorkeling, diving, hiking, camping, birdwatching, white water rafting, zipline tours and more. In Panama City you can enjoy world class dining, nightlife, casinos and shopping! Panama has attracted some of the world’s most famous brands to open up shop here including Gucci, Prada, Cartier, Hermes, Nike, Ralph Lauren, Micheal Kors, Carolina Hererra, Chanel and countless others. Tourists from all over the world come to Panama and experience a modern, beautiful city with all the amenities one would expect from a world famous business and tourism hub.

The PANAMANIAN VESSEL and YACHT REGISTRY offers many facilities, which are of considerable interest to ship owners who wish to register their vessels under the Panamanian flag.

For forms for general services related to maritime services

  • General Information
  • Incentives
  • Fees

    • The Advantages

    Here are some of the advantages offered by the PANAMANIAN REGISTRY:

    Ownership: Any person or company, regardless of nationality and place of corporation is eligible to register ships under the Panamanian flag. Furthermore, there is no income or withholding taxes payable when the income is a result of the operation of a vessel engaged in international trade.

    Minimum Requirements: There is no minimum tonnage requirement. However, vessels over 20 years old will have to pass a special inspection by an authorized Panamanian inspector, in order to obtain the Permanent Navigation Patent.

    Technical Certificates: Ship owners who wish to transfer their ships to the Panamanian flag will not be required to have them re-surveyed if the ships possess valid safety and tonnage certificates at the moment of registration, obviates the necessity to have the ship dry docked prior to registration and consequently saves the ship owner considerable expenses. However, upon the registration, a recognized entity (national or international) should issue a new set of certificates on behalf of the Administration.

    Segumar: Since 1977, our New York Representative Office has been providing assistance and advice on safety and technical matters concerning the Panamanian Registry. The New York Representative Office, which is commonly known as SEGUMAR also directs the inspection program of Panamanian flag vessels.

    Annual Safety Inspection Program (ASI): All Panamanian ships engaged in international trade are subject to an Annual Safety Inspection (ASI) which aims to determine whether or not they comply with safety or life at sea and marine pollution prevention requirements as prescribed by international and national laws and regulations.

    The surveys and the issuances of certificates on behalf of the Panamanian Administration, in accordance with the relevant and applicable Conventions, have been authorized to the leading classification societies and several national recognized organizations.
    The annual safety inspection (ASI) also verifies the existing living hygienic and working conditions of the crew in accordance with the International Labor Organization’s Conventions ratified by Panama. In addition, the Certificates of Minimum Safe Manning and Certificates of Competency complying with the STCW Convention are issued.

    Other Incentives

    Other Incentives/advantages for ship owner operating under the Panama flag

    With the objective of obtaining maximum benefits from its geographical position its important natural resources and its huge potential for development as a maritime nation, the Republic of Panama has adopted a policy of promotion and protection for productive investments made in the country.

    Panamanian legislation guarantees incentives for investments, especially those inviting industrial enterprise, be they national, foreign or joint ventures, with or without government participation. Ship owners are welcome to participate in these ventures.
    Colon Free Zone: The Colon Free Zone is the largest and most active of its kind on the continent, and the second in the world, after Hong Kong. Operations handled by the Colon Free Zone include the transshipment of goods between ships and aircrafts, storage, processing, assembly, light industry assembly handling and manufacture, as well as the storage of goods for undetermined periods of time before they are re-exported to other countries. The Colon Free Zone is located alongside the entrance to the Panama Canal, at the beginning of the Tran isthmian Railroad and the Tran isthmian Highway. Ports in the Atlantic side are few kilometers from the city of Colon, and ports in the Pacific side and the International Airport are eighty kilometers away.

    International Banking and Financial Centers: The special features of Panamanian policy regarding financial, economic, monetary and banking matters have turned the Republic of Panama into an increasingly important international banking and financial center. There are over 150 national and international banks currently operating in the country, and virtually all the major financial institutions in America, Europe and Asia today have a substantial presence in Panama.