Panama Flag Registration / Certification

Introduction to Panama Vessel Registration

Panama is a globally recognized maritime hub, offering one of the most efficient and cost-effective vessel registration services. At Spear Maritime Academy, we guide maritime professionals through the comprehensive process of registering vessels under the Panama flag, ensuring compliance with international standards and local regulations.

Advantages of Panama Vessel Registration

• Global Recognition: Panama is home to the world’s largest ship registry, making Panamanian-flagged vessels widely recognized and respected.
• Cost Efficiency: Competitive registration fees and taxes make Panama an attractive option for ship owners.
• Operational Flexibility: Panamanian regulations allow for operational flexibility, including crew nationality and vessel operation without significant restrictions.
• Legal and Fiscal Benefits: The Panamanian legal system offers robust protection for maritime investments, coupled with favorable tax regimes.

Eligibility and Requirements

To register a vessel under the Panama flag, the following criteria and documentation are required:

• Ownership Proof: Evidence of ownership, such as a bill of sale or builder’s certificate.
• Vessel Details: Technical specifications, including tonnage, dimensions, and machinery details.
• Survey and Inspection: A survey report from a recognized classification society verifying the vessel’s seaworthiness.
• Previous Registration: If applicable, a deletion certificate from the previous flag state.
• Tonnage Certificate: Issued by an authorized classification society.
• Safety Certificates: Compliance with international safety standards, including SOLAS and MARPOL.

Step-by-Step Registration Process

1. Preliminary Registration: Submit an application with the required documents for preliminary registration, valid for six months.
2. Permanent Registration: Complete the permanent registration by submitting any remaining documentation and paying the applicable fees.
3. Issuance of Registration Certificates: Receive the provisional and eventually the permanent registration certificates, along with the radio license and other relevant documents.

Provisional Registration:

• Form A (contact us to obtain this form)
• Memorandum of Agreement
• Valid copies of the Document of Compliance (DOC) and Safety Management Certificate (SMC)
• Continuous Synopsis Record (CSR)
• International Ship Security Certificate (ISSC)
• Power of Attorney

The Provisional Ship Registration Certificate and Radio License will be issued within 24 working hours, provided all documents are completed and the first annual tax is paid. These temporary certificates are valid for six months.

2. Permanent Registration

Permanent Certification is issued upon submission of the following documents:

• Original Bill of Sale and Acceptance of Sale in favor of current owners, duly notarized and authenticated by the Panamanian Consulate
• Original Power of Attorney, duly notarized and authenticated by the Panamanian Consulate
• Copies of DOC, SMC, ISSC, CSR under the new owner's name
• Report of LRIT, Immarsat C active report

Permanent certificates are valid for five years.

Panama Flag Vessel Certification

Spear Maritime Academy can process the following certificates for Panamanian ships:

• Minimum Safe Manning Certificate (MSMC)
• Continuous Synopsis Record (CSR)
• Bunker Convention Certificate (BCC)
• Wreck Removal Convention (WRC)
• Document of Compliance of the ISM Code (DOC)
• Certificate of Inspection of Crew Accommodations (CICA)
• International Ship Security Certificate (ISSC)
• Maritime Labor Convention Certificate (MLC)
• Safety Management Certificate (SMC)
• International Tonnage Certificate (ITC)
• Cargo Ship Safety Construction Certificate (CSSC)
• Cargo Ship Safety Radio Certificate
• International Load Line Certificate (LLC)
• International Tonnage Certificate (ITC-69)
• International Oil Pollution Prevention Certificate (IOPP)
• Approval of Shipboard Oil Pollution Emergency Plans
• Cargo Ship Safety Certificate (for vessels under 500 GRT)
• Cargo Ship Safety Radiotelephony Certificate
• Fishing Vessel Safety Certificate
• Pleasure Ship Safety Certificate
• ISM Code
• Caribbean Code Safety Certificate
• International Ship & Port Facility Security Code (ISPS)
• Ship Security Plan (SSP) & Ship Security Assessment Approval (SSA)
• International Air Pollution Prevention Certificate (IAPP)
• International Energy Efficiency Certificate (MARPOL)
• Sewage Pollution Prevention Certificate (MARPOL)
• Document of Authorization for the Carriage of Grain in Bulk
• Document of Compliance for the Carriage of Solid Bulk Cargo
• International Pollution Prevention Certificate for the Carriage of Noxious Liquid Substances in Bulk (NLS Cert)
• Condition Assessment Scheme (CAS)
• Shipboard Marine Pollution Emergency Plan (SMPEP)
• Code for the Construction and Equipment of Ships Carrying Dangerous Chemicals in Bulk (BCH Code)
• International Certificate of Fitness for the Carrying of Dangerous Chemicals in Bulk
• Document of Compliance for the Carrying of Dangerous Goods
• International Antifouling System Certificate
• Class Certificate for Existing Vessels of 500 GT and above
• Mobile Drilling Unit Safety Certificate (MODU)
• Technical Investigation
• Cargo Hold Survey
• Bunker Survey
• OBO/RBO – On/Off Hire
• Inclining Test
• Stability Booklet
• Container Survey
• Draft Survey
• (P&I) Condition Survey
• Evaluation and Preparation of ISPS Plan
• Inspections for Purchase of Ships
• Ship Appraisal
• Volatile Organic Compounds (VOC) Management Plan Approval
• Damage Structures/Hull
• Ultrasonic Thickness Test
• PCSOPEP
• STCW-95 Courses
• Tonnage Calculation (ITC 69)
• Load Line Calculation (66/68)
• Freeboard Calculation
• Hydrostatics Calculation
• Shafts, Propeller, and Propulsion Calculation
• Rudder Design Calculation
• Longitudinal Strength Calculation
• Enhanced Survey
• Ship-to-Ship Transfer (STS) Operation Plan Approval
• Special Purpose Ship Safety Certificate