Every boat in Panama has a customs status. A foreign yacht that clears in is in transit: no duty, up to 24 months under Decreto Ejecutivo 4 of 2025. A boat that has been through a definitive import with Aduanas is imported, with no time limit. Selling, chartering and registering all depend on which one yours is.
The two statuses, and the flag question
In transit (embarcación en tránsito). Decreto Ejecutivo 4 of 11 February 2025, Panama's nautical tourism decree, defines a vessel in transit as one that stays in Panamanian waters for no more than 24 months. It is a visitor. It pays no import duty, cruises on the AMP cruising permit and has to leave, or be imported, when the time runs out.
Imported (importada definitivamente, or nationalised). The owner has paid import duty, and any ITBMS that applies, through a licensed customs broker. The boat is now a Panamanian good, can stay indefinitely and is normally registered with the AMP.
The flag is a separate question. The flag is the vessel's nationality, held by the AMP or a foreign registry. The customs status is Aduanas' record of whether duty has been paid. A Panamanian flag does not prove the boat was imported: the decree itself refers to Panamanian-registered yachts with an international-service navigation patent, a registry used by owners who keep their yachts abroad. Check both files. The flag side is in Panama flag yacht registration.
How to tell which status a boat is in
Look at the papers, not the stern.
- Imported: an Aduanas import declaration in the owner's or a previous owner's name, a receipt for the duty paid, and usually an AMP registration for domestic service (servicio interior).
- In transit: a foreign registration or an international-service patent, the cruising permit, the entry zarpe and whatever record Aduanas made at clearance, with no import declaration.
- Unclear: a Panamanian registration with no import paperwork, or a boat bought locally from someone who cannot show either file. Treat it as not imported until a customs broker confirms otherwise.
The live page on temporary vs full import notes that we could not confirm how Aduanas itself records a yacht's temporary stay. Ask at clearance what admission period your yacht has, and get it in writing.
What each status lets you do
| You want to… | In transit | Imported |
|---|---|---|
| Cruise Panama on your own boat | Yes, on the cruising permit | Yes, on its Panamanian papers |
| Stay longer than 24 months | No | Yes |
| Sell to a buyer who keeps it in Panama | Not as it stands; import first | Yes |
| Sell to a buyer who takes it abroad | Yes, under the flag state's rules | Yes, with an export |
| Charter to paying guests | Only via a licensed local operator and charter permit | Yes, with commercial AMP and ATP licensing |
| Leave it in a marina while you fly home | Yes, but the clock keeps running | Yes |
The charter route for visiting yachts is AMP Resolution J.D. 089-2020 and the 2025 decree; see foreign-flagged boat charter. The wider rules for visitors are in foreign-flagged boats in Panama.
Switching from in transit to imported
You can import a boat that is already in Panama. A customs broker files the definitive import on the boat where it lies, using the purchase documents and its entry papers to build the value. Duty and any ITBMS follow. Then you register it with the AMP. The full process, the duty rates and the ITBMS question are in importing a boat into Panama.
Start the conversation months before the 24-month mark, not weeks. Brokers need documents from abroad, and if the boat will change flag the old registry has to be cancelled. The decree's clock counts the boat's stay whether anyone is aboard or not, so time in a yard or on the hard counts too. If you do not want to import, plan an exit: see leaving Panama by boat.
Why it matters when you buy in Panama
Plenty of boats for sale in Panama are foreign yachts whose owners have decided to stay ashore. They can be good buys, but the price has to account for the import. If you keep the boat here, you, not the seller, become the importer unless the contract says otherwise.
- Ask for the import declaration before you make an offer.
- If there is none, get a broker's estimate of duty and ITBMS on the agreed price, and negotiate who pays.
- Check the foreign registry for liens and make sure the seller can deliver a deletion certificate.
- Write the customs status and who pays import costs into the contract.
The buyer's side of a local purchase is in buying a boat in Panama, and lien checks are in checking for liens.
Your practical starting checklist
- Ask for the boat's import declaration and duty receipt.
- Check the flag and registration separately from customs status.
- Diary the 24-month transit limit from the boat's first entry.
- Get a customs broker's opinion if the papers are unclear.
- Decide well before the limit whether to import or leave.
- Put customs status and import costs in any sale contract.
Frequently asked questions
How long can a boat stay in Panama in transit?
Decreto Ejecutivo 4 of 2025 treats a vessel as in transit if it stays no more than 24 months in Panamanian waters. After that it must leave or be imported.
Is a Panamanian-flagged yacht automatically imported?
No. The flag and the customs status are separate files. Panama registers yachts for international service that have never been imported, so ask for the Aduanas import declaration.
Can I import a boat that is already in Panama?
Yes. A licensed customs broker can file a definitive import for a boat already in Panamanian waters. You then pay duty and any ITBMS and register it with the AMP.
Does time on the hard count towards the 24 months?
The decree has the single window record stays whether a vessel is crewed or not, so assume the clock keeps running while the boat is stored. Confirm with Aduanas for your case.
¿Qué es una embarcación en tránsito en Panamá?
Según el Decreto Ejecutivo 4 de 2025, es la que permanece en aguas panameñas hasta 24 meses sin importarse. No paga aranceles, pero no puede venderse a un comprador local ni explotarse comercialmente sin cumplir los requisitos.
The next question to answer
The international buying and selling hub. Read Buying and selling across borders.
Time limits, leaving a boat and selling a visitor. Read Temporary vs full import.
Duty, ITBMS, broker and paperwork. Read Importing a boat into Panama.
Same topic in Florida: coming from the US? Compare Foreign-Flagged Yachts in Florida.
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.
- Gaceta Oficial: Decreto Ejecutivo 4 of 11 February 2025 (nautical tourism) ↗
- AMP: Resolución J.D. 089-2020, yacht chartering auxiliary maritime service ↗
- US International Trade Administration: Panama customs regulations (secondary) ↗
- PwC Worldwide Tax Summaries: Panama other taxes, reviewed Aug 2026 (secondary) ↗