To buy a boat in Panama you find it, confirm its flag and customs status, survey and sea-trial it, check ownership and liens at the AMP's Registro Público de Naves, sign a notarised contrato de compraventa, pay, and file the transfer (traspaso) with the AMP. If the boat is foreign and staying, add import duty and 7% ITBMS.
Where boats are sold in Panama
Panama's boat market is small, cash-heavy and spread over two coasts. Where a boat sits tells you a lot about what kind of deal it will be.
- Panama City and the Pacific side. This is the biggest market: online classifieds such as Encuentra24, dealers, brokers and dock talk at the Amador marinas, Ocean Reef and Vista Mar in San Carlos. Mostly centre-consoles, sportfishers and motor yachts. The local detail is in buying a boat in Panama City.
- The Colón coast. At Shelter Bay, Linton Bay and Panamarina, the listings are mostly cruising sailboats and catamarans, often sold by owners who end their voyage here. Many are foreign-flagged.
- Bocas del Toro and Chiriquí. Bocas Town and Boca Chica have a thin market of local boats and the odd cruiser. Expect to travel for the survey.
- Florida. Many owners buy in the US and bring the boat down. Read buying in Florida and bringing it to Panama before comparing prices.
Decide what you need first, using choosing a boat for Panama's waters and new vs used in the tropics.
Panamanian flag, foreign flag or in transit
Every boat for sale in Panama is in one of three situations, and each one closes differently.
| Status | What you check | What it means for you |
|---|---|---|
| Panamanian-registered, duties paid | AMP registration or patente, import declaration, lien certificate | The cleanest case. Ownership moves by AMP traspaso, and no import tax is due again. |
| Foreign-flagged, in transit | Foreign registration, cruising permit dates, flag-state lien search | If you take it away, you mostly need the flag state's paperwork. If you keep it in Panama, you are importing it. |
| In Panama but never cleared or registered | Whatever paper exists | Treat the tax bill and the registration as unknown costs, or walk away. |
Under Decreto Ejecutivo 4 of 2025, a visiting yacht can stay in transit for up to 24 months. Its clock keeps running while you negotiate. The detail is in in transit vs imported and temporary vs full import.
Survey, sea trial and the registry check
Do three checks before any money moves beyond a deposit:
- A haul-out survey by an independent surveyor who knows small craft. Yards on both coasts are covered in boat surveys in Panama.
- A sea trial in the water the boat will actually use: Pacific tide and chop, or Caribbean trade-wind swell. See sea trials in Panama.
- An ownership and lien check. The AMP's Registro Público de Naves records titles, naval mortgages (hipotecas navales), financial leases and court restrictions such as embargo and secuestro, which block a transfer. It issues certificates of ownership and liens in Spanish or English, for a fee. The full process is in checking ownership and liens at the AMP.
Match the hull identification number and engine serials across the boat, the registration, the import papers and the survey report. If they don't match, stop.
Contract, notary and payment
The AMP accepts a title transfer as a written private document with the signatures notarised by a Panamanian notary or consul. For a registered vessel, the registry may also need the deed formalised as an escritura pública. In practice that means a contrato de compraventa, often bilingual, prepared or reviewed by a maritime lawyer. What it should say is covered in boat purchase agreements in Panama.
Pay in US dollars by traceable bank transfer, or through a lawyer's escrow account, never in cash at the dock. Deposits, release conditions and escrow are explained in deposits and escrow. The warning signs, such as a seller who is always abroad or papers that arrive later, are in boat-purchase scams. Most deals here are cash, and financing a boat in Panama explains why.
The AMP traspaso, import duty and ITBMS
After closing, the buyer or their lawyer files the transfer with the AMP's Dirección General de Marina Mercante. The registry then records the new owner and issues updated registration. The filing steps are in transferring boat ownership. For a boat that isn't registered yet, see registering a boat with the AMP. The AMP's Junta Directiva sets registration and transfer fees, so confirm the current amounts with the AMP.
A foreign boat that will stay needs a definitive import through Aduanas, with a licensed customs broker (corredor de aduanas). The US Commercial Service reports import duty plus 7% ITBMS on the CIF value. We could not confirm the current duty rate for pleasure craft on an official tariff page, so get a written broker estimate before you sign. A first rough figure can come from the import tax estimator. The full picture is in importing a boat to Panama, and the contract should say who pays.
Insurance, slip and the first year
Line up three things before closing day so the boat is never uninsured or homeless:
- Insurance from closing day, with the survey report attached. See boat insurance in Panama.
- A slip, mooring or dry storage, with the agreement in writing. Compare options in choosing a marina in Panama.
- An AMP operator licence for whoever drives. See recreational operator licences.
Price the first year with the boat-buying budget and the ownership cost calculator. If the boat will take paying guests, read buying a boat to charter first, because commercial use changes the registration and the insurance.
Your practical starting checklist
- Decide what you need and set an all-in budget, including tax, slip and the first year.
- Before viewing, ask each seller for the boat's flag, AMP or foreign registration and import paperwork.
- Get a written duty and ITBMS estimate from a customs broker for any boat that isn't already cleared.
- Run a haul-out survey and a sea trial in realistic conditions on the coast where the boat will live.
- Order an ownership and lien certificate from the AMP Registro Público de Naves, or the flag state's equivalent.
- Sign a notarised contrato de compraventa and pay by bank transfer or lawyer's escrow.
- File the AMP traspaso, then put insurance, the slip agreement and operator licences in place that week.
Frequently asked questions
Can a foreigner buy a boat in Panama?
Yes. No nationality requirement applies to owning or registering a boat with the AMP. Many foreign owners hold the boat through a Panamanian company; see choosing an ownership entity.
Do I need a lawyer to buy a boat in Panama?
You need a notary for the signatures. A lawyer isn't mandatory for every small domestic boat, but a maritime lawyer is worth it for the lien search, a bilingual contract, escrow and any boat with a mortgage or foreign flag.
Can I buy a foreign-flagged boat in Panama and keep it here?
Yes, but keeping it means a definitive import, with duty and 7% ITBMS, and usually Panamanian registration. Agree in the contract who pays, and get a customs broker's estimate first.
How long does a boat purchase take in Panama?
That depends on the survey slot, the lien certificate and the AMP filing. Ask your lawyer and the AMP for current processing times rather than relying on a figure from a forum.
En español: lanchas en venta en Panamá
Para comprar una lancha o un yate en Panamá, el orden es el mismo en todo el país:
- Busque en Encuentra24, en las marinas de Amador, Shelter Bay, Linton Bay y Bocas, y con distribuidores y corredores.
- Pregunte si la embarcación tiene bandera panameña con impuestos pagados o si es extranjera y está en tránsito.
- Haga una inspección en seco y una prueba de mar.
- Pida al Registro Público de Naves de la AMP una certificación de propiedad y gravámenes.
- Firme un contrato de compraventa con firmas notariadas y pague por transferencia bancaria o con escrow de abogado.
- Presente el traspaso ante la AMP.
Si la lancha es extranjera y se queda en Panamá, pida a un corredor de aduanas un cálculo del arancel y del ITBMS (7%) antes de firmar.
The next question to answer
Every guide in the buying collection. Read Buying a boat in Panama.
Local channels, marinas and the city closing. Read Buying a boat in Panama City.
Make sure the boat is the seller's to sell. Read Ownership and lien check at the AMP.
Same topic in Florida: coming from the US? Compare How to Buy a Boat 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.
- AMP: Registro Público de Naves, tipos de inscripción ↗
- Ley 57 de 2008, Ley General de Marina Mercante (Justia mirror) ↗
- Decreto Ejecutivo 4 de 2025, turismo náutico (Gaceta Oficial) ↗
- DGI: ITBMS, generalidades ↗
- US Commercial Service: Panama customs regulations (secondary) ↗
- Encuentra24: boats and yachts for sale, Panama (secondary) ↗