Panama has the largest merchant marine fleet in the world in terms of number of ships and registered tonnage, as a result of a diversity of advantages it provides, such as the following:

• All income arising from Panamanian registered vessels engaged in international trade is tax free;
• Capital gains resulting from the sale or transfer of a vessel registered in Panama is not considered taxable income in Panama;
• There are no nationality restrictions when it comes to the ownership of a Panama vessel;
• The existence of a specialized Maritime Court, authorized to oversee and govern maritime cases in the Republic of Panama, that operates 24 hours a day, every day of the year, including holidays;
• The existence of an extensive network of overseas consulates in major city ports throughout the world, which allows convenient and expeditious processing of most maritime related transactions;
• An international provisional navigation license and provisional radio license can be issued with minimal requirements.

In OIS we are aware of the place Panama occupies as leading Maritime Centre and through our qualified team of attorneys and legal staff we are prepared to assist you with the services of Yacht and Vessel registration.

For more information do not hesitate to contact us.