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Registration under Panama flag
officially the Republic of Palau is an island country located in the western Pacific Ocean. The country contains approximately 340 islands, forming the western chain of the Caroline Islands in Micronesia, and has an area of 466 square kilometers (180 sq mi)
Advantages of Panama flag
Disadvantages of Panama flag
- Largest flag in the world
- Tax free
- No nationality of owner restriction
- No nationality of crew restriction
- No minimum tonnage restriction
- No ship age restriction
- Provide registry for all ships types
- Discounted registration rates for fleet
- White list in Paris MOU
- Ship registration time frame: two working days
- Recognized organizations: 28 class society and recognized organization
- Less required documents
- Accepts foreign flags bare-boat charter registration
- Issues special registration for three months for the purpose of scrapping or delivery
- Too many departments to deal with in Panama Maritime Authority
- Restriction of issuance of passenger ship safety certificates to IACS classes only
- Long permanent registration procedure
Certificates to be issued by Panama flag:
- Patentee (Ship registry certificate) (Navigation license) (NL)
- Ship station license (Radio station license) (SSL)
- Minimum safe manning (MSMC)
- Continuous synopsis record (CSR)
- Certificate of civil liability for oil pollution damage (BCC)
- Wreck removal certificate (WRC)
- CLC 69
- Deceleration of maritime labor compliance P I(DMLC PI)
- International tonnage certificate (Optional: can be issued by the RO) (ITC)
- Full term International ship security certificate (ISSC)
- Full term Maritime labor certificate (MLC)
- Full term International ballast water management certificate (IBWMC)
Provisional registration:
- Registry and ship station license are issued for six months
- Minimum safe manning is issued for six months
- Continuous synopsis record is issued for three months
Required documents for provisional registry:
- Registration application (copy)
- Bill of sale (copy)
- Power of attorney (copy)
- Copy of valid:
- Document of compliance
- Safety management certificate
- International ship security certificate
- Maritime labour certificate
- International oil pollution prevention certificate (oil tankers)
- Passenger ship safety certificate (Passenger ships)
- Continuous synopsis record (copy) (latest document)
- Passport of ship owner, if owner is a person (copy)
- Company corporation documents, if owner is company (copy)
- Copy of minimum safe manning application
- Copy of continuous synopsis record application
Permanent registration:
- Registry and ship station license are issued for four years
- Minimum safe manning and continuous synopsis record are issued for lifetime
Required documents for permanent registration:
- Original bill of sale duly notarized by Panamanian consulate, Panamanian notary public or Apostille
- Original deletion certificate dully notarized by Panamanian consulate, Panamanian notary public or Apostille
- Original power of attorney dully authenticated Panamanian consulate, Panamanian notary public or Apostle
- Ship station license application (copy)
- Copy of valid:
- Document of compliance
- Safety management certificate
- International ship security certificate
- Maritime labour certificate
- International oil pollution prevention certificate (oil tankers)
- Passenger ship safety certificate (Passenger ships)
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