Panama ship registration fees and annual tax
Panama’s ship registry fees are set by law and published by the Maritime Authority in circular MMC-232.
A ship pays a one-time registration fee and then, every year, an annual tax of US$0.10 per net ton, a consular fee, an inspection fee and a casualty investigation fee scaled by tonnage. For a bulk carrier of 5,000 gross tons and 3,000 net tons, the yearly charges are US$3,640.
A worked example
A bulk carrier of 5,000 gross tons and 3,000 net tons:
| Charge | Bracket | US$ |
|---|---|---|
| Annual tax | US$0.10 per net ton | 300 |
| Annual consular fee | over 3,000 up to 5,000 gross tons | 2,000 |
| Annual inspection, cargo ship | over 1,600 up to 5,000 gross tons | 850 |
| Casualty investigation and conferences | over 500 up to 10,000 gross tons | 400 |
| Casualty investigation, per net ton | US$0.03 per net ton | 90 |
| Total each year | 3,640 | |
| Registration fee, once | over 2,000 up to 5,000 gross tons | 2,000 |
| First year | 5,640 |
Source: Merchant Marine Circular MMC-232, sections 1 and 5 to 8; Law 4 of 1983, articles 3 to 6; Law 19 of 1992, article 2
Other official fees
- Deletion from the registry: US$1,000.
- Extension of the provisional patent: US$50 a month.
- Extension of the provisional radio license: US$150 for each three-month period.
- Preliminary mortgage recording: US$450 for the first US$2 million, plus US$150 per additional million, up to US$1,200.
- Private yachts: a single fee of US$1,500 every two years, or US$1,000 for an owner of Panamanian nationality.
Source: Merchant Marine Circular MMC-232, sections 2, 3, 4 and 6; Law 19 of 1992, articles 3 and 5
Discounts
Discounts are requested by a memorial filed through an attorney, with a sworn statement that proves the economic group, and a ship gets only the highest discount it qualifies for.
- Groups with 5 to 15, 16 to 50 or more than 51 ships registered on the date the law was enacted: 20, 35 or 60 percent off the registration fee, annual tax and consular fee of the year a new ship is registered.
- Three or more ships of a group registered together or within the same calendar year: 25 percent under 30,000 gross tons, 40 percent from 30,000 to under 100,000, and 60 percent from 100,000.
- New constructions and ships registered within five years of keel laying, up to 50 percent of the first year for new constructions of 100,000 gross tons or more.
- No port state detention in 24 months: 15 percent off the next year’s annual tax and consular fee.
Source: Law 57 of 2008, articles 149 to 152
What is not in the example
The circular itself warns that other fees may apply: technical certificates, the radio account and the inspector’s travel costs, which the owner pays. Our professional fees are separate and quoted in writing.
Source: Merchant Marine Circular MMC-232, section 9; Merchant Marine Circular MMC-171, section 8.3
Questions people ask
Is the MMC-232 fee table still in force?
Yes. It is published by the Authority, is not on its list of cancelled circulars, and its figures match the laws that set them.
Is the fleet discount 50 or 60 percent?
The law sets 60 percent for groups of more than 51 ships. We have found no basis for a 50 percent cap.
Is the drilling platform incentive still available?
No. It applied only to platforms re-registered in the first two years after the law took effect in 2009.
What the law does not say
- Whether any later rule has changed the figures in MMC-232.
- The fee for the special temporary registry for scrapping or delivery voyages, which the Authority’s board sets by tonnage.
- Whether a ship exempted from inspection by its risk profile still pays the annual inspection fee.
- The content of the 2024 and 2025 resolutions that waive up to 100 percent of fees for new constructions.
Official sources
Header photo: ImagePerson, CC BY 4.0, cropped.
Registering a vessel in Panama?
Book a free 15-minute call with a Panamanian lawyer. We will tell you what your ship needs and what to prepare.