The preliminary registration ship mortgage required submitting the application forms with full details of the document to be registered. The preliminary registration may be performed through the Registration Office of the Panama Maritime Authority in Ukraine. The preliminary registration shall produce total legal effects against third parties for a period of six (6) months as of the date on which the preliminary registration was made. Then, the title of ownership of the vessel and the ship’s mortgages shall be translated, notarized, and filed for their permanent registration at the Ship Registry.
According to Law, 55 which was amended under Law No. 27 of October 28, 2014, a ship mortgage executed abroad may be registered in the English language.
The Panama Registry allows the registration of mortgages on ships that are under construction, after submitting a certification issued by the Shipyard.