The Panamanian ship registry is internationally recognized as the largest in the world, with more than 15% of the global merchant fleet registered under its jurisdiction.
Panama is much more than a bridge between two oceans.
For decades, its flag has flown on thousands of vessels around the world, backed by a reputation for efficiency, flexibility, and legal security.
In this complete guide, we’ll explore everything you need to know about registering your vessel under the Panamanian flag—from its history and origins, to the technical and legal requirements, competitive advantages, step-by-step procedures, the latest statistics, and practical tips to get you sailing with confidence.
Panama’s connection to maritime trade is as old as its strategic geography.
As early as 1606, during the colonial period, Panama served as a crucial hub for trade between Spain and Peru. Ships transported goods and precious metals across the isthmus, reducing thousands of kilometers of sea travel.
With the opening of the Canal in 1914, the country strengthened its role as a bridge between the Atlantic and Pacific. This laid the foundation for developing a legal framework that facilitated the registration of foreign vessels.
In 1925, Panama officially adopted the open registry, allowing any vessel—regardless of the nationality of its owner or place of construction—to fly its flag.
Panama connects East to West and North America to South America in a matter of hours.
But it’s not just geography: the Panama Maritime Authority (AMP) has consolidated an efficient, secure, and modern registry system that is a global benchmark.
According to AMP data, more than 8,500 vessels are currently registered under the Panamanian flag, far surpassing other registries such as Liberia or the Marshall Islands.
Registering your vessel in Panama offers benefits that go far beyond cost:
The registry is open to all types of owners and vessels, without restrictions based on nationality or place of construction.
The Panamanian flag is accepted at ports worldwide, streamlining operations and paperwork.
Panama offers an attractive fee structure compared to other international registries.
The country has robust maritime laws and specialized maritime courts.
Many revenues earned from operations outside the country are exempt from local taxes.
From shipyards to specialized maritime law firms, Panama has everything a shipowner might need.
The process to obtain a provisional navigation license (for vessels up to 5,000 net tons) requires:
Owner and previous registrations
Country and date of construction
Shipyard builder
Number of decks, funnels, bridges, and masts
Type and use of the vessel
Hull material
Gross and net tonnage
Machinery and cylinder details
Speed and power (HP)
Classification society
Dimensions: depth, beam, and length
Tonnage certificate
Power of attorney (Panamanian lawyer)
Title of ownership
Certificate of cancellation of previous registry (if applicable)
International tonnage certificate (except new vessels)
Civil liability certificate (for tankers)
Mortgage documents (if applicable)
Allows global operation under the Panamanian flag.
For vessels chartered for more than 2 years, retaining nationality.
Special benefits for recreational vessels.
Panama’s open ship registry means that the owner’s nationality is not a barrier. This has enabled Panama to become the world leader in the number of registered vessels.
Registering a charter contract in Panama guarantees:
Legal security
International recognition
Protection in contractual disputes
Mortgages registered in Panama are accepted as collateral by international banks, facilitating financing for the acquisition or modernization of vessels.
Hire an authorized maritime lawyer.
Gather technical data and documents.
Sign a power of attorney.
Submit the application to the AMP.
Pay the applicable fees.
Obtain a provisional license (48–72 hours).
Apply for the definitive license.
| Year | Registered Vessels | World Ranking |
|---|---|---|
| 1990 | 3,200 | #2 |
| 2005 | 5,700 | #1 |
| 2025* | 8,500+ | #1 |
*AMP estimates.
Hire lawyers experienced in Panamanian maritime law.
Keep all technical documentation up to date.
Consider registering the mortgage alongside the title of ownership.
Assess whether your vessel qualifies for tax benefits.
Use Panamanian corporations to facilitate ownership management.
How long does the registration take?
48 to 72 hours for a provisional license.
What if my vessel is new?
It does not require an international tonnage certificate.
Can I register a private sailing yacht?
Yes, under the special registry for yachts.
Digitalization will be key. The AMP is implementing:
100% online applications
Electronic payments
Verifiable digital certificates
This will reduce processing times and increase the registry’s competitiveness.
The Panamanian ship registry is a strategic tool for vessel owners and shipping companies seeking to operate under a globally recognized flag, with tax benefits, legal flexibility, and strong legal backing. With over 70 years of experience and global leadership, Panama will continue to be the undisputed reference in international maritime trade.
