A boat sale in Panama is a written contrato de compraventa. Ley 55 de 2008 allows any language, with signatures authenticated by a notary or Panamanian consul. To register the new owner at the AMP, it is then protocolised in a Spanish escritura pública, with an authorised translation of any English text.
What Panamanian law requires
The rules are in the Ley de Comercio Marítimo, Ley 55 de 2008.
- In writing, any language (Art. 16). The sale contract can be signed in Panama or abroad, as an escritura pública or as a private document. A private document needs the signatures authenticated by a notary public or a Panamanian consul acting as notary.
- Effective against third parties only once presented to the registry. Until the AMP's ship property registry (DGRPN) receives it, the sale does not bind anyone else. A document signed abroad must be apostilled or legalised by a Panamanian consulate before it is presented.
- Inventory included (Art. 12). Unless the contract says otherwise, the tender, gear and accessories on the inventory go with the boat.
- Debts disclosed (Art. 15). The boat passes with its charges, and the seller must give the buyer a note of the credits the vessel may be subject to. That note goes into the deed.
Registration happens in two stages. A preliminary inscription gives the buyer full ownership rights for six months; within that time the title must be protocolised and filed for definitive inscription through a lawyer qualified in Panama (Art. 10).
What the AMP registry asks for in the contract
The DGRPN publishes minimum contents for a sale contract used as a definitive title (Gaceta Oficial 28620-A, 26 September 2018). Build your contract around them:
- Vessel details: name (old and new if it is renamed), patente number, radio call letters, registered dimensions and tonnage, and its registry file (ficha).
- Each party's full name and address; for a Panamanian company its Registro Público details; for a foreign company its country of registration; and the signatory's name and position.
- The mortgagee's consent, if a mortgage is registered.
- The buyer's express acceptance of the purchase.
- The sale price and the date of signing, consistent throughout.
- Notarial certification with apostille, or a Panamanian consul's certification.
- The name and signature of the authorised public translator, for documents in another language.
- A paz y salvo for the vessel from the Marina Mercante and a copy of the provisional patente issued for the new owner.
Small boats on the interior registry follow a simpler Marina Mercante process; see transferring boat ownership.
Spanish, English and bilingual contracts
The contract may be in English, but Panamanian notarial deeds are in Spanish, and the registry requires a translator for anything else. In practice you have three options:
- Spanish only. Simplest for the registry. Get your own translation so you know what you signed.
- Bilingual, two columns. The most common choice for expat buyers. Add a clause saying which text prevails; for anything filed in Panama, the Spanish text is the one that gets registered.
- English only. Workable for a sale signed abroad, but budget for an authorised public translator (traductor público autorizado) and check every number in the translation.
Do not use a machine translation as the filed text. The registry checks that names, dates and figures match across the contract, the certificates and the deed.
Clauses to include
- Identification. Registry details plus hull identification number and engine makes and serials.
- Price and payment. In US dollars, with the deposit, the balance and how each is paid. See deposits and escrow.
- Conditions. Satisfactory survey and sea trial, a clean property and liens certificate, a paz y salvo, and the import papers.
- Seller warranties. Good title, no registered or unregistered charges except those listed, duties and ITBMS paid (or the boat's in-transit status stated), no court orders or disputes.
- The Art. 15 note of credits, even if it says "none", and an indemnity if a claim appears later.
- Inventory of tender, electronics, safety gear and spares, and anything excluded.
- Delivery. Place, date, condition, and when risk passes; have insurance in place from that moment.
- Costs. Who pays notary, registry, AMP and lawyer fees, and any tax. See boat sale taxes.
- Default. When the deposit is refunded or kept.
- Law and forum. Panamanian law and the Panamanian maritime courts are the natural choice for a Panamanian-registered boat.
The notary and the signing
Panamanian notaries authenticate signatures and protocolise documents into escrituras públicas. They do not check the boat or the title for you; that is your lawyer's job and the lien check. Bring originals of each signatory's cédula or passport and, for a company, a recent certificate of its officers and the board resolution authorising the sale.
If one party is abroad, they can sign before a Panamanian consul or a local notary, followed by an apostille. Notary and registry fees vary; confirm them with the notary and the AMP before closing. The final AMP filing is covered in closing and AMP transfer.
Your practical starting checklist
- Pull a property and liens certificate so the contract uses the registry's exact details.
- Have a Panamanian maritime lawyer draft a bilingual contract with a precedence clause.
- Attach the survey conditions, inventory and the seller's note of credits.
- Sign before a Panamanian notary, or abroad with apostille or consular certification.
- File for preliminary inscription, then protocolise and file for definitive inscription within six months.
- Request the new provisional patente from the Marina Mercante and keep copies of everything aboard.
Frequently asked questions
Does a boat sale contract in Panama have to be in Spanish?
No. Ley 55 de 2008 lets it be in any language. To register the title definitively it is protocolised in a Spanish escritura pública, with an authorised public translator's version of any foreign-language text.
Is a notary enough, or do I need a lawyer?
The notary authenticates signatures. Definitive inscription of a title at the AMP registry is filed through a lawyer qualified in Panama, and a lawyer is the one who checks the title.
Can I use a Florida purchase agreement?
You can start from one, but add the Panamanian registry details, the Art. 15 note of credits, the import status and the AMP filings. Then have it translated and checked by a Panamanian lawyer.
¿Qué debe contener un contrato de compraventa de embarcación en Panamá?
Los datos de la nave (nombre, patente, letra de radio, dimensiones, ficha), de las partes, el precio, la aceptación del comprador, el consentimiento del acreedor hipotecario si lo hay y la autenticación notarial. Así lo exige la AMP para inscribir el título.
The next question to answer
Pull the AMP property and liens certificate before you pay. Read Ownership and lien check.
Where to hold the money until the paper is clean. Read Deposits and escrow.
A printable list of every document to collect. Read Boat-buying checklist (Panama).
Same topic in Florida: coming from the US? Compare Understanding a Boat Purchase Agreement.
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 55 de 2008, Comercio Marítimo (Justia copy of Gaceta Oficial 26100) ↗
- AMP DGRPN: Requisitos generales, título definitivo (Gaceta Oficial 28620-A, 26 Sept 2018) ↗
- AMP: Dirección General de Registro Público de Propiedad de Naves, tipos de inscripción ↗
- Ley 57 de 2008, Marina Mercante (Justia copy of Gaceta Oficial 26100) ↗