Buying a boat in Panama City: where, how, what it costs

You buy a boat in Panama City the way you buy one anywhere: find it, check the paper, survey it, agree a price, close. The Panama twist is that the paper lives with the Autoridad Marítima de Panamá (AMP), the sales channels are smaller and more personal than Florida's, and the boat's tax history (imported, in transit or never cleared) decides what it will really cost you. This guide walks the whole path from first listing to AMP transfer.

Where boats are actually sold in Panama City

Boats change hands in Panama City through five channels; watch all of them.

Online classifieds. Encuentra24 is the local default: its boats and yachts category lists everything from 16 ft runabouts to flybridge motor yachts, usually sitting at Punta Pacífica, Amador or the beach marinas west of the city. Prices are in US dollars.
Marina word of mouth. Flamenco Marina, La Playita de Amador and Ocean Reef Marina are where owners talk. Dockmasters and detailers know which boats are quietly for sale; walk the docks on a Saturday morning.
Dealers. New-boat dealers for the big US and European brands cluster around Amador, Costa del Este and the Punta Pacífica marina. Their trade-ins are where many well-kept used centre-consoles come from.
Brokers. A small number of yacht brokers work Panama City, often alongside Florida offices. Panama does not license brokers the way Florida does, so check track record, not a licence number.
Cruisers leaving. Sailboats and trawlers that arrive to transit the canal sometimes sell instead at La Playita or Shelter Bay. These are foreign-flagged boats in transit, which matters for tax (below).

Compared with the Miami market this one is thin: good local boats sell fast and poorly documented ones linger.

Imported, in transit or locally registered: the question that sets the price

Before you talk money, find out which of three situations the boat is in. Each one changes the closing.

Panamanian-registered, duties paid

The boat is on the AMP registry for servicio interior (domestic use) and import duty and ITBMS were paid when it entered the country. This is the clean case: ownership transfers at the AMP and you keep using the boat as before. Ask for the current patente or registration certificate and the original import declaration.

Foreign-flagged, in transit

Cruising yachts and some larger motor yachts are here temporarily under a foreign flag. Keep one in Panama and you are importing it, duty and ITBMS included; take it away and the Panamanian side is only exit paperwork.

Locally used, never properly cleared

Smaller boats sometimes arrive by trailer or container and never reach any registry. You will see the problem when you try to register, insure or sell. Price these as a project with an unknown tax bill, or walk away.

Checking the boat with the AMP

The Dirección General de Marina Mercante of the AMP registers vessels in Panama. Under the Ley General de Marina Mercante (Ley 57 de 2008), title and mortgages on registered vessels are also recorded with the Registro Público, and a transfer needs a certificate showing no liens or the mortgagee's consent (Art. 36). For a yacht, the patente de navegación runs two years (Art. 98), so an expired one is common and not fatal, but it tells you how the boat was looked after.

What to ask the seller for, and what to verify yourself:

The registration certificate or patente showing the current owner, matching the seller's cédula or passport.
A Registro Público certificate of no liens (certificado de no gravamen) for a registered vessel.
The purchase invoice or notarised sale contract for the hull and engines, which the AMP asks for when it registers small domestic boats.
The import declaration (DMC) and duty receipts from the Autoridad Nacional de Aduanas, or evidence the boat entered under a tax-free regime.
Hull identification number and engine serials that match every document.

A local maritime lawyer can run the Registro Público search in a day; the AMP's Registro de Naves answers queries from its Diablo Heights head office.

Survey and sea trial before money moves

The Pacific is hard on boats: 4–6 m tides stress mooring gear, warm water grows weed fast, and the rainy season fills bilges. Haul-out options for a survey are the 100–150 ton travelift at Flamenco Marina, the Croc Lift and yard at Vista Mar Marina (about an hour west in San Carlos) and the marine railways at Balboa Yacht Club at the city end of the causeway. Book the lift around high water; Flamenco hauls only on the top of the tide.

Surveyors in Panama City work mostly in the commercial sector, so ask specifically for small-craft experience and ask which accreditation they hold. The survey and sea trial guide covers how to find one and what to test in Bahía de Panamá conditions.

ITBMS, import duty and what the state wants

Panama's sales tax, the ITBMS, is 7% on most goods. Import duty on a vessel is set by the Autoridad Nacional de Aduanas tariff schedule and must be assessed by a licensed customs broker (corredor de aduanas); rates vary by vessel type and origin, so get a written estimate before you sign rather than relying on a figure from a listing. A private used sale with duties already paid does not normally trigger ITBMS again; a dealer sale does. Confirm your case with a customs broker or accountant; this page will not guess a rate.

Budget as well for the AMP's registration and transfer fees and for a notary. Fee amounts are set by the AMP's Junta Directiva and change, so confirm the current schedule with the Dirección General de Marina Mercante. Law firms publish all-in packages for a formal flag registration if you want one.

Closing: notary, payment, AMP traspaso

A Panama City closing has three parts. First, the sale contract (contrato de compraventa) is signed before a notary; for a registered vessel this is what the AMP and Registro Público will record. Second, payment: bank transfer in US dollars is normal, and escrow through a lawyer's client account is available if you ask. Third, the traspaso: the buyer or their agent files the transfer with the AMP, pays the fees, and receives updated registration in the new owner's name. For a small domestic boat the owner can file directly without a lawyer (Ley 57, Art. 17); for a flagged yacht a resident agent is required.

Collect keys, manuals, spares and the marina's written word on the slip contract the same day. Then read the ownership costs guide so the first year does not surprise you.

Your practical starting checklist

Decide whether you will keep the boat in Panama or take it away; that sets which taxes apply.
Ask the seller for the AMP registration, Registro Público lien certificate and import paperwork before viewing.
Walk the docks at Flamenco, La Playita and Ocean Reef and compare with Encuentra24 listings.
Get a written duty and ITBMS estimate from a licensed customs broker for any boat not already cleared.
Book a haul-out survey and a sea trial in Bahía de Panamá on a realistic afternoon.
Sign the contrato de compraventa before a notary and pay by traceable bank transfer or lawyer's escrow.
File the traspaso with the AMP and update insurance and the marina slip the same week.

Frequently asked questions

Can a foreigner buy and register a boat in Panama?

Yes. The AMP registers vessels owned by individuals and by Panamanian or foreign companies. Many owners use a Panamanian company; ask a maritime lawyer which structure suits you.

Is a Panamanian flag the same as registering a small boat locally?

No. The international Panamanian flag registry is for vessels in international trade or large yachts and runs through a resident agent. Small boats used in Panama register for servicio interior directly with the Dirección General de Marina Mercante, a simpler process.

Do I pay ITBMS when buying a used boat from a private seller?

Usually not on a private used sale where duties were already paid, but a dealer sale carries 7% ITBMS and an imported boat carries duty plus ITBMS at entry. Confirm the treatment with a customs broker or accountant before agreeing a price.

¿Dónde encuentro lanchas en venta en Panamá?

Las lanchas en venta en Panamá se publican sobre todo en Encuentra24, en los muelles de Flamenco, La Playita y Ocean Reef, y a través de los distribuidores de Amador y Costa del Este. Antes de pagar, pida el registro de la AMP, el certificado de no gravamen del Registro Público y la declaración de importación.

How long does an AMP transfer take?

A provisional patente can issue in a day or two with a complete file; permanent registration follows in weeks. Missing lien certificates or import proof cause the delays.

En español: comprar una lancha o yate en la Ciudad de Panamá

Las lanchas y yates se venden en la Ciudad de Panamá por Encuentra24, por recomendación en las marinas de Amador y Punta Pacífica, y en los distribuidores de Costa del Este. Antes de comprar, verifique el registro en la Autoridad Marítima de Panamá (AMP), el certificado de no gravamen en el Registro Público y los documentos de importación de Aduanas. Haga inspección y prueba de mar, firme el contrato ante notario y presente el traspaso en la AMP.

Yards, surveyors and what to test in Bahía de Panamá. Read Surveys and sea trials in Panama City.

Slip, AMP fees, insurance, fuel and crew in one worksheet. Read Owning a boat in Panama City: real yearly numbers.

Where your new boat will live. Read Panama City marinas and boat storage compared.

Same topic in Florida: coming from the US? Compare Buying a Boat 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.

Fernando Yemail is the owner of Feeling Yachty and is not a lawyer. Yachty Guide provides general educational information and practical recommendations, not legal, tax, insurance or individualized professional advice. Panamanian rules depend on the vessel, flag, activity and location and can change. Confirm current requirements with the relevant authority (AMP, ACP, SENAN, ATP, ARAP, MiAmbiente, Migración or Aduanas) and consult a qualified professional in Panama about your situation. Full disclaimer.