The Office of the Panama Maritime Authority in Ukraine provides registration services ships, yachts, superyachts, megayachts into the Panamanian Ship Registry. The Panama Ship Registry is public, secure, and transparent.

Required documents on yacht registration:

• Declaration of owner
• Copy of passport or extract from the register of the legal entity
• Power of Attorney to a resident agent
• Ownership certificate
• Copy of previous registry cancelation
• Application form
• Coordinates of navigation of the yacht

According to the Panama Merchant Shipping Code, 1989, the provisional registration of pleasure yachts is valid for 6 months. During this term, the owner or his representative provides all the documents necessary for the permanent registration of the yacht.

By registering a pleasure yacht under the Panamanian flag, yacht owners pay tax every two years. This tax excludes the payment of any other tax and owners of yachts registered in Panama are not submit to VAT. The amount of taxes charged by the Panama Maritime Authority are among the most competitive rates in the world for yacht registration.