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Panama: Offshore Legal and Tax Regimes

Shipping Registry Fees

See Law of Offshore for details of the legal regime applying to ship registration.

Provisional registration for 6 months costs US$500, and US$50 for renewal; the renewable provisional 3-month radio licence costs US$150 per quarter.

Under Law no. 4 of 1983 (as amended) ongoing annual registration fees and duties (Consular Tasa) are based on tonnage as follows:

Tonnage, GRT
Registration Fee, US$
Up to 2,000
500
Over 2,000 up to 5,000
2,000
Over 5,000 up to 15,000
3,000
Over 15,000
plus US$0.10 per GRT to a maximum of US$6,500
Tonnage, GRT
Consular Tasa, US$
Up to 1,000
1,200
Over 1,000 up to 3,000
1,800
Over 3,000 up to 5,000
2,000
Over 5,000 up to 15,000
2,700
Over 15,000
3,000

There are also annual Tasa charges dependent on tonnage covering inspection and regulatory costs.

There is a separate scale of duties for barges, pontoons and vessels operated other than for profit.

There is also a separate regime for pleasure vessels under which registration is on a renewable 2-year basis; a single fee of US$1,500 (US$1,000 for a Panamanian individual or corporation) is payable every two years. Pleasure vessels are exempt from duties and other Tasa charges.

 

 

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