PANAMA CITY ROOTS. TWO OCEANS.   A guide by Fernando Yemail & Feeling Yachty
Yachty Guide Panama by Feeling Yachty
Yachty Guide · Panama

Selling a boat in Panama

Selling a boat in Panama means pricing in a market with few comparable sales, presenting a boat that has lived in heat and humidity, and closing through a notary and the Autoridad Marítima de Panamá (AMP). For a Panamanian-flagged boat the transfer (traspaso) is recorded at the AMP Registro Público de Naves after the compraventa is notarised. For a foreign-flagged boat the title moves under that flag, but the buyer will still ask about the boat's customs status, because an imported boat and an 'in transit' boat are worth different amounts to different buyers.

People ask three things: what is my boat worth here, should I use a broker or sell privately, and what taxes do I owe. Valuation leans on import cost basis and condition more than on listing sites. Brokers exist but are unlicensed in Panama, so vetting matters. ITBMS (Panama's 7% sales tax) and income tax treatment depend on who the seller is and how the boat is held; confirm with a Panamanian accountant rather than a forum.

This collection will cover how to sell a boat in Panama, valuing with thin comps and import cost basis, preparing a boat for sale in the tropics, private sale versus broker, closing with AMP transfer, notary and taxes, taxes when selling (ITBMS and capital gains basics), and selling to a foreign buyer or one who will sail the boat out. The Panama City survey and sea-trial guide is useful from the seller's side too.

The Florida selling sub-hub covers the same arc with Florida titles and sales tax; read it if your buyer is American and plans to take the boat north.

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Frequently asked questions

How is a boat sale transferred in Panama?

For a Panamanian-flagged boat, the signed and notarised compraventa is presented to the AMP Registro Público de Naves to record the traspaso to the new owner. Foreign-flagged boats transfer under their own flag's rules.

Is ITBMS charged on a used boat sale?

It depends on whether the seller is a business and how the boat is held. Private sales between individuals are treated differently from sales by an S.A. Confirm your case with a Panamanian accountant.

Can I sell to a buyer who will sail the boat out of Panama?

Yes. The buyer will need an international zarpe from the AMP and, if the boat was imported, Aduanas paperwork to export it. Settle those steps in the contract so neither side is stuck.

Same topic in Florida: coming from the US? Compare Selling & Closing.

Official resources

Use the relevant Panamanian authority for current requirements and fees. These resources are the next place to check; a practical recommendation is not an agency determination.