Vessel Registration
The enrollment consists of two stages:
provisional and permanent. The Consulate will handle the initial paperwork and
is authorized to issue temporary documentation including a provisional
Certificate of Registration (also known as “Patente”), valid for 6 months
and a provisional Radio License, valid for 3 months. The procedure is
straightforward and is usually completed within the same day, as soon as
registration fees and first year's annual charges are paid to the Consulate.
The shipowner must appoint a Panamanian law
firm to act as its representative in Panama. That firm will file the title of
ownership with the Public Registry
Office, in Panama, and submit an
application for permanent registration to the Shipping Department within the validity period of the temporary
certificates.
Title Registration
The Consulate is authorized to register in
preliminary form the Bill Of Sale or any other title of ownership, such as a
builder’s certificate. The Consul shall retain one counterpart of the Bill of
Sale and Acceptance of Sale and authenticate true copies of these documents,
which are to be filed at the Public Registry in Panama within six months.
Registration form
Mortgage Registration
The Consulate is entitled to register in
preliminary form a naval mortgage against a Panamanian vessel. Mortgages are
bilateral contracts between the mortgagor (shipowner) and the mortgagee
(lender). The Consul shall legalize the signature of both parties. The procedure
is straightforward and is usually completed within the same day.
The shipowner can be assured of the
acceptance by the United States, Far Eastern and European banks of the
Panamanian mortgage, providing satisfactory security. Hence the Panamanian Ship
Mortgage, once registered, grants a right to the mortgagee against the vessel.
The encumbrance follows the ship even when sold. The mortgagee thus has a right
to pursue, attach or have the ship sold in order to collect his credit, with
preference over creditors of less standing.
Registration form
Bareboat Charter Registration (Dual Registry)
Under bareboat charter, a shipowner leases a
ship to an operator – the charterer – which becomes responsible for the
operation of the vessel. According to Panamanian Law, which allows Dual
Registry, that vessel, already registered in one state, may be registered under
the flag of another state for the duration of the charter (up to two years,
renewable).
The dual registry system allows a charterer,
leasing a ship registered in a country without an open registry, to benefit from
the advantages of the Panamanian Registry. It also allows the shipowner to
maintain the original registration, which is merely suspended during the dual
registration but regains its effectiveness upon termination of the charter. The
authorization of the original flagging state, as well as the shipowner's, is
necessary. The Consulate is allowed to handle the required procedure.
Name
Registration
It is possible to reserve in advance the name of a vessel in
construction, or scheduled for construction, provided this name is available,
upon payment of a nominal fee of US$40.00 per month.
Special
Provisional Registration
Vessels of international service destined for
scrap, delivery voyages or any other mode of temporary navigation may apply for
a provisional Patente and a Radio Permit both of which are valid for three
months.
Documents
required for registration
The costs involved
Registration form
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