A Panama City charter's costs fall into fixed categories (the boat, licences, insurance, marina, crew payroll with CSS and the décimo tercer mes) and variable ones (fuel at government-set maximum prices, maintenance, platform commissions and card fees). Operators price per hour, half-day or day for private charters and per person for tours, and add 7% ITBMS.
Fixed costs: what you pay whether or not you sail
- The boat. Purchase or finance payments, or a lease. If it is imported, duties and clearance with Aduanas. See boat ownership costs in Panama City.
- Company and licences. Resident agent and accounting fees, AMP registration and inspection fees, ATP registration, and the annual aviso de operación tax. A La Prensa tax column describes that tax as 2% of the business's net capital, with a minimum of B/.100 and a maximum of B/.60,000, and businesses with capital under B/.10,000 exempt; confirm with your accountant. AMP and ATP fees are not published as a tariff online: ask each office.
- Insurance. Civil liability is mandatory for the ATP; hull, crew and passenger accident cover are layers on top. See costs and insurance in Panama.
- Marina or pickup. A berth, plus whatever the marina charges for commercial pickup: often per passenger or per month. Get it in the contract.
- Payroll for employed captains and crew (below).
Captain and crew under Panamanian labour law
Employed crew come under the Código de Trabajo and the Caja de Seguro Social (CSS). Budget for more than the salary:
- Employer CSS contribution. Under Ley 462 of 2025 the employer rate is 13.25% of salaries until 28 February 2027, rising to 14.25% from March 2027 and 15.25% from March 2029, according to TVN's report of the CSS announcement. The employee's 9.75% is deducted from pay.
- Décimo tercer mes. The thirteenth-month payment: one twelfth of salary earned, paid in three instalments around 15 April, 15 August and 15 December.
- Other obligations such as vacations and seniority payments. Ask a labour lawyer or payroll provider for the full list.
Many operators use freelance licensed captains for peak days. That arrangement has its own labour-law conditions, so structure it with a lawyer. Hiring is covered in hiring yacht crew in Panama City.
Variable costs: what each trip burns
- Fuel. The Secretaría Nacional de Energía publishes maximum retail prices for gasoline 91 and 95 and low-sulphur diesel, updated every 14 days. Marine fuel docks set their own price, so ask your dock how it relates to the published figure. Use your boat's real burn at cruising speed, not the brochure. See Panama City ramps and fuel docks.
- Maintenance. Engine hours, haul-outs, antifouling, safety-gear replacement, and the time out of service.
- Consumables. Ice, water, soft drinks, snacks, cleaning, snorkel gear.
- Commissions and fees. OTAs and booking platforms take a cut of each booking; Airbnb's help centre, for example, gives a 20% service fee for Experience hosts. Card processors charge per transaction.
- Activity fees. MiAmbiente park fees for Coiba, Guna fees in San Blas, ARAP licences for fishing.
ITBMS and income tax
The DGI sets ITBMS at 7% on goods and services under Ley 8 of 2010, with 10% on alcoholic drinks and lodging. A charter that includes an open bar or overnight accommodation should ask its accountant how to split the invoice. Returns are filed in the first 15 days of each month according to the DGI's ITBMS page.
Always say whether a price includes ITBMS. On top sit income tax on Panamanian-source income and the aviso tax. Get an accountant who knows tourism businesses.
How operators price
| Product | Usual unit | What drives the price |
|---|---|---|
| Bay or sunset cruise | Per hour, often with a 2–4 hour minimum | Boat size, crew, idle fuel |
| Taboga day | Half-day or day | About 8 nm each way, time at anchor |
| Las Perlas day | Day | About 35 nm each way: fuel is the largest cost |
| Overnight | Per night or package | Crew time, provisioning, generator hours |
| Scheduled tour | Per person | Seats sold against certified capacity |
A simple build-up: fuel for the route, plus crew cost for the hours including set-up and cleaning, plus consumables, plus a share of the fixed costs spread over the trips you realistically sell, plus commissions, plus margin, then ITBMS. Rainy-season demand and weather cancellations mean fewer trips than you hope, so spread fixed costs over a cautious number.
How to sanity-check a price
- Does the quote say what is included: fuel, captain, crew, ice and water, snorkel gear, lunch, tender fuel, ITBMS and gratuity?
- Does fuel for the route alone, at your real burn, use up most of the price? Then the price is too low or the boat too big for the trip.
- Would the price still cover costs after a platform commission?
- Does it allow for a weather-cancelled day?
- Is a much cheaper competitor licensed? A boat without ATP, AMP and insurance costs less to run because it skips the costs you carry.
The guest's view of the same quote is in boat tours from Panama City; the US comparison is charter pricing and costs.
Your practical starting checklist
- List every fixed cost for a year and divide it by the trips you can realistically sell.
- Measure your boat's fuel burn on each route and price it at the current published fuel price.
- Cost crew with employer CSS, the décimo tercer mes and other labour obligations.
- Add consumables, maintenance reserve and platform or card commissions.
- Set your margin, then add 7% ITBMS and state it on the quote.
- Review prices when fuel prices or the CSS rate change.
Frequently asked questions
How much does a yacht charter cost in Panama City?
It depends on the boat, the route and the hours. Fuel is the biggest variable: a Las Perlas day of about 35 nm each way costs far more to run than a bay cruise.
Is fuel price regulated in Panama?
The Secretaría Nacional de Energía publishes maximum retail prices for gasoline and diesel every 14 days. Ask your marine fuel dock how its price relates to the published one.
Do charter prices include ITBMS?
They should say. ITBMS is 7% on services, and 10% on alcoholic drinks and lodging. Quote either including or excluding it, and write which.
What does a captain cost an operator beyond the salary?
Employer CSS contributions (13.25% until February 2027 under Ley 462 of 2025), the décimo tercer mes and other labour obligations. Confirm current rates with the CSS or a payroll provider.
¿Cuánto cuesta alquilar un yate en Panamá?
Depende del tamaño del barco, la ruta y las horas. Pida que la cotización detalle combustible, tripulación, bebidas, ITBMS y propina.
The next question to answer
The full startup chain. Read How to start a boat charter business in Panama.
The model changes the cost base. Read Charter operating models in Panama.
Getting paid once the price is set. Read Bookings, deposits and payments.
Same topic in Florida: coming from the US? Compare Pricing Charters from Operating Costs.
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.
- DGI (MEF): ITBMS generalidades, 7% and 10% rates, filing period ↗
- Secretaría Nacional de Energía: nota de prensa, ajuste de precios de combustibles 24 Jul–7 Aug 2026 (hosted by TVN) ↗
- TVN: cuota patronal, aumento escalonado (Ley 462 de 2025), Mar 2025 (secondary, press) ↗
- Finiquito Justo: décimo tercer mes en Panamá, cuotas y cálculo (secondary) ↗
- La Prensa: notas tributarias al obtener un aviso de operación (opinion column, Aug 2025, secondary) ↗
- Airbnb Help Center: service fees for experiences ↗