Panama has no yacht broker licence. Nothing like Florida's state licence, bond or exam exists, and the AMP does not license sales brokers. What applies instead is ordinary business law: a company or sole-trader registration, an aviso de operación, tax registration with the DGI, and the know-how to steer a sale through the AMP and Registro Público.
Is there a yacht broker licence in Panama?
No. In Florida, selling other people's yachts for a fee needs a state yacht broker or salesperson licence from the DBPR, with a bond and an employing broker; see becoming a yacht broker in Miami. Panama has no equivalent.
The legal reason is Ley 5 de 2007. Its first article makes the aviso de operación the only process needed to start a commercial activity. No public institution or municipality may demand any other permit, licence or registration to start or carry on that activity, unless a special law says otherwise. We found no special law that creates a licence for boat sales brokerage. The AMP licenses seafarers, vessels and auxiliary maritime services, but selling a boat for a client is not on that list.
Charter work is different. Running chartered yachts is an AMP-licensed activity under Resolution J.D. 089-2020. See sales vs charter brokerage in Panama.
What applies instead
| Requirement | Who handles it | Why it matters to a broker |
|---|---|---|
| Company (S.A. or S. de R.L.) or persona natural | A Panamanian lawyer as resident agent; Registro Público | Keeps commission income, contracts and liability out of your personal name. |
| Aviso de operación | Panamá Emprende (MICI) | Your legal permission to trade. Changes must be reported within 30 days. |
| RUC, ITBMS and income tax | DGI | Commissions are fees for a service. ITBMS is 7%. |
| Municipal registration | The municipality where you operate | Municipal tax on the business activity. |
| Anti-money-laundering checks | Banks, lawyers and notaries on the deal | Boat brokers are not on the obligated-subjects list, but the professionals around the closing are. |
| Work permit, if you are a foreigner | Migración and MITRADEL | Owning the company is easy. Working in it is a separate question. |
Each line is unpacked in the rules that do apply to brokers in Panama.
What a broker actually does in Panama
The market is small and personal. Boats sell through Encuentra24, dock talk at Flamenco, La Playita and Ocean Reef, dealers, and a handful of brokers, many tied to Florida offices. A broker earns the fee by doing the parts private sellers get wrong:
- Tax status. Is the boat Panamanian-registered with duties paid, foreign-flagged in transit, or never cleared? It changes the real price. See in transit vs imported.
- Paperwork. The AMP registration or patente, a Registro Público certificate of no liens, and the import declaration. Ley 57 de 2008 (Art. 36) asks for a lien-free certificate or the mortgagee's consent before an AMP transfer.
- Survey and sea trial. You arrange the haul-out and the surveyor, and keep both sides honest.
- Closing. Notarised sale contract, payment, and the AMP traspaso. See buying a boat in Panama City for the buyer's view.
Spanish matters. AMP, notary and Registro Público work happens in Spanish, and many sellers prefer it.
If you are a foreigner
A foreigner can own 100% of a Panamanian company. Showing boats, negotiating and closing deals is work, though, and work needs the right immigration status and usually a MITRADEL work permit. Panama also caps foreign staff at 10% of a company's workforce (15% for specialists). Settle your status with an immigration lawyer before you start taking listings. The company side is covered in setting up a company in Panama: S.A. to RUC.
A Florida licence does not carry over. It is also not needed. What does carry over is your network, your MLS access and your experience with surveys and closings. That is real value for Panama buyers who are coming from the US.
Credibility without a licence
With no licence number to show, buyers judge you on proof. Build it from day one:
- A registered company whose details match your contracts and invoices.
- Written, bilingual listing and buyer agreements. See commissions, listing agreements and ethics.
- A clear rule for client money: who holds a deposit, in which account, under which contract.
- References from completed AMP transfers.
- Voluntary association membership, such as IYBA or MYBA, if you qualify. Membership is a credential, not a licence.
Buyers will run these same checks, as described in checking out a broker in Panama.
Your path from here
To open your own office, read starting a yacht brokerage in Panama. If you are a seller deciding whether you need a broker at all, read private sale vs yacht broker in Panama. The whole collection is at yacht brokers in Panama.
Your practical starting checklist
- Decide whether you will broker sales, charters or both; charters bring AMP licensing.
- Form an S.A. or S. de R.L. through a Panamanian lawyer, or register as a persona natural.
- Get the aviso de operación on Panamá Emprende for a precise activity, such as yacht sales brokerage.
- Register the RUC, ITBMS and municipal tax, and open a business bank account.
- If you are a foreigner, settle your residence and MITRADEL work permit before you work.
- Write bilingual listing and buyer agreements and a client-money rule before your first deal.
Frequently asked questions
Do I need a licence to be a yacht broker in Panama?
No. Panama has no state or AMP licence for yacht sales brokers. You need an aviso de operación, tax registration and, in practice, a company. Charter operation is licensed separately by the AMP.
Is my Florida yacht broker licence valid in Panama?
It is not recognised, and it is not required. It still helps your reputation and gives you MLS access. Working in Panama as a foreigner is a separate immigration and work-permit question.
Does the AMP register brokers?
No. The AMP registers vessels and their transfers, licenses seafarers and licenses auxiliary maritime services, such as yacht-charter operating companies. A sales broker files nothing with it in their own name.
Can a foreigner work as a yacht broker in Panama?
Owning the company is straightforward. Doing the work usually needs residence and a MITRADEL work permit, and the foreign-worker cap applies to the company's staff. Ask an immigration lawyer first.
¿Se necesita licencia para ser corredor de yates en Panamá?
No existe una licencia de corredor de yates en Panamá. Se necesita el aviso de operación en Panamá Emprende, el RUC en la DGI y, en la práctica, una sociedad. El arrendamiento de yates sí requiere licencia de operación de la AMP.
En español: cómo ser corredor de yates en Panamá
Panamá no tiene una licencia de corredor de yates como la de Florida. Según la Ley 5 de 2007, el aviso de operación es el único trámite para iniciar una actividad comercial, salvo que una ley especial exija otro permiso, y no encontramos ninguna para el corretaje de embarcaciones. Lo que sí aplica es una sociedad, el aviso de operación, el RUC, el ITBMS del 7% sobre las comisiones, el impuesto municipal y el conocimiento del traspaso ante la AMP y el Registro Público. Si usted es extranjero, necesita estatus migratorio y permiso de trabajo para ejercer.
The next question to answer
Every Panama broker guide in one place. Read Yacht brokers in Panama.
Company, taxes, AMP transfers and anti-money-laundering. Read Rules that apply to brokers in Panama.
From company to first listing. Read Starting a yacht brokerage in Panama.
Same topic in Florida: coming from the US? Compare How to Become a Yacht Broker in Miami.
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.
- Ley 5 de 2007, aviso de operación and Panamá Emprende (FAOLEX copy of G.O. 25709) ↗
- Ley 57 de 2008, Ley General de Marina Mercante (Justia copy) ↗
- Ley 23 de 2015 (anti-money-laundering), compiled text with Ley 124 de 2020 Art. 40 list of non-financial obligated subjects (CNBC, MEF) ↗
- DGI: ITBMS generalidades ↗
- AMP: Resolución J.D. 089-2020, yacht chartering auxiliary maritime service ↗