 Ship Registration
Services
Panama's Ship Registry is
number-one worldwide. Due to the very low registration taxes and fees as compared to other countries throughout the
world, ship registration under the Panama flag is widely used by international shipping
companies.
At the time of registering
into Panamanian Merchant Marine, all vessels must pay a one time
enrollment fee, based on a graded scale, plus a Government fee for
registration of bill of sale is $0.20 per net registered ton or fraction
thereof, plus 20% surtax. Annual tax is $0.10 per net ton, plus other
charges.
Liberal labor laws concerning Panama flag vessels are also an important consideration,
and income earned on international shipping activities are specifically and expressly exempted from Panama income taxes.
Special favorable rates apply for registration of yachts owned by a
Panamanian Corporation.
Pleasure yachts are easy to
register and their owners must pay the Maritime Authority once every two
years a fixed US$1,500.00 fee. If the owner of the vessel is a Panama
company, the fee is discounted to US$1,000.00.
A detailed memorandum on
this matter is available upon request.
At INTERTRUST, we can
expedite the process of registration of your vessel under the Panama flag.
Contact us for further details.
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