A Panama boat sale closes in a fixed order: clear or release any liens, sign the contrato de compraventa before a notary, pay against cleared funds, record the title in the Registro Público, and file the traspaso with the AMP. Under Ley 57 de 2008, the AMP then issues a provisional patente and radio licence in the buyer's name.
The order of a Panama closing
- Before closing day. The seller orders a Registro Público certificate showing the boat is free of liens (libre de gravámenes), gets a payoff letter from any lender, settles what the boat owes the AMP so it is paz y salvo, and settles marina and yard bills.
- Closing day. Both sides sign the compraventa before a notary. Funds move by bank transfer or are released from escrow. Keys, documents and the boat change hands.
- After closing. The contract is recorded in the Registro Público, any old mortgage cancellation is recorded, and the traspaso is filed with the AMP's Dirección General de Marina Mercante.
What the contract should say is covered in boat purchase agreements, and deposits in deposits and escrow. This page is about getting from signed deal to new papers.
The notary and the Registro Público
Title to a Panamanian vessel is recorded in the Registro Público, not just at the AMP. That is why the sale contract is signed before a Panamanian notary: the notarised document is what the Registro Público records. Ley 57 makes the link explicit. To get a permanent patente, the owner must show evidence that the title is recorded in the Registro Público (art. 27).
Practical points:
- The contract should identify the boat by name, registration number, hull identification number and engine serials, exactly as they appear on the patente.
- If a company is selling or buying, the notary will ask for its Registro Público certificate and an authorising resolution or power of attorney.
- A party signing abroad will need the document authenticated or apostilled, and a Spanish version if it is in English. Ask your lawyer which form the Registro Público will accept before anyone signs.
Cancelling liens and other claims
Ley 57 requires the transfer application to include a Registro Público certificate showing the boat is free of liens, or the mortgage lender's consent (art. 36). In practice a mortgage is paid off from the sale price at closing, and the lender signs a cancellation of the hipoteca naval, which is then recorded. The buyer's lawyer will want that recorded before the full price is released, or the payoff sent straight to the lender.
Registered mortgages are not the only claims on a boat. Panama's Commercial Code, as amended by Ley 57 (art. 171), gives certain debts a privilege over the vessel itself, including crew wages for the last voyage, salvage, and sums owed for the boat's needs and supplies. These do not always show up on a registry search. That is why buyers ask sellers to warrant that no such debts exist and to show that marina, yard and crew bills are paid. A buyer's view of the same search is in checking ownership and liens.
Filing the AMP traspaso
Ley 57 calls this the updating of navigation documents for a transfer of title (arts. 34–39). The owner, the buyer or a representative of either asks the Dirección General de Marina Mercante for a new provisional patente de navegación and provisional radio licence, and pays the fees. The AMP issues them only if the boat is paz y salvo with Panama and its technical and safety documents are current.
The application must include (art. 36):
- The original appointment of the boat's resident agent, where one is required. An internationally registered yacht needs one; ask the AMP whether your domestic boat does.
- Prima facie evidence of ownership, or of the intention to acquire it, such as the signed compraventa.
- The Registro Público lien-free certificate or the lender's consent.
- Anything else the Dirección General de Marina Mercante asks for.
The AMP can let you file the first two items up to 30 days later. For a domestic (servicio interior) boat, the owner or a representative can file directly without a lawyer; an internationally registered yacht files through a Panamanian lawyer (art. 37). Once the provisional documents are issued, the new owner applies for the permanent patente and radio licence (art. 38). The wider registry picture is in transferring boat ownership.
If the deal falls through after filing
Ley 57 protects the seller here. If provisional documents were issued for a change of owner but title never transferred, the seller can ask the AMP to cancel them and restore the previous documents (art. 63). Fees already paid are not refunded (art. 64). That is one more reason to file the traspaso only once funds have cleared.
Handover and what to collect
| Seller hands over | Buyer brings |
|---|---|
| Current patente and radio licence, registration certificate | Cédula or passport; company papers if buying through a company |
| Registro Público lien-free certificate, or lender's consent and payoff letter | Proof of funds or escrow release instructions |
| AMP paz y salvo, import declaration and duty receipts | Insurance ready from the moment of handover |
| Keys, manuals, spares, maintenance log, marina release letter | Marina slip agreement or a plan to move the boat |
Print the sale closing checklist and tick it off on the day.
Your practical starting checklist
- Order the Registro Público lien certificate and any lender payoff letter.
- Make the boat paz y salvo with the AMP and settle marina and yard bills.
- Sign the compraventa before a Panamanian notary.
- Release payment against the signed contract, and pay off any mortgage directly.
- Record the title and any mortgage cancellation in the Registro Público.
- File the traspaso with the AMP and collect the provisional patente and radio licence.
- Apply for the permanent patente once the title is recorded.
Frequently asked questions
Can I file the AMP transfer myself?
For a domestic-service boat, yes: Ley 57 lets the owner or a representative file without a lawyer (art. 37). An internationally registered yacht files through a Panamanian lawyer.
What does the AMP charge for a traspaso?
Fees are set by the AMP and change. Confirm the current amount with the Dirección General de Marina Mercante before closing, and agree in the contract who pays.
Is the boat the buyer's once the notary signs?
The contract transfers ownership between the parties, but the registry shows the seller until the title is recorded and the AMP issues new documents. Finish both quickly.
¿Qué se necesita para el traspaso de una embarcación en Panamá?
El contrato de compraventa ante notario, el certificado del Registro Público de libre de gravámenes o la anuencia del acreedor hipotecario, el paz y salvo de la nave y la solicitud de nueva patente provisional ante la Dirección General de Marina Mercante (Ley 57 de 2008, arts. 34 a 37).
The next question to answer
A printable list for closing day. Read Sale closing and AMP transfer checklist.
The compraventa clauses that matter. Read Boat purchase agreements in Panama.
The whole selling process. Read How to sell a boat in Panama.
Same topic in Florida: coming from the US? Compare Boat Closing and Document Handover.
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 57 de 2008, Ley General de Marina Mercante (arts. 27, 34–37, 45–47, 57–61; Código de Comercio art. 1507 as amended by art. 171) ↗
- Kraemer & Kraemer: recreational ship registration in Panama — secondary, law firm ↗
- Autoridad Marítima de Panamá (AMP) ↗