Panama has six common charter models: the captained day charter, scheduled shared tours, overnight or term charters, bareboat, a management programme for someone else's boat, and selling as a broker or booking agent. The first four put you in the AMP and ATP chain as an operator; the last two shift most vessel obligations to whoever runs the boat.
The six models in plain terms
- Captained day charter. One group books the whole boat, with your captain, for a few hours or a day: a bay cruise, Taboga, a long day to Las Perlas. The backbone of the Panama City market.
- Scheduled tours. You sell seats on a fixed departure to strangers: a sunset cruise, a Taboga run, a whale-watching trip in season. More guests per trip, more manifests and more marketing.
- Overnight or term charter. One group, one or more nights, usually a catamaran or motor yacht to Las Perlas or San Blas. See overnight and multi-day charters.
- Bareboat. The guest skippers and takes control of the boat, without your crew. Legal questions, insurance and guest competence all get harder. See bareboat charter in Panama.
- Management programme. You own a boat; a licensed operator runs it for charter and pays you a share. See putting your boat in a management programme.
- Broker or booking agent. You sell trips on boats you neither own nor operate, and take a commission.
Side by side
| Model | Who operates the boat | Licences you need | Main risk |
|---|---|---|---|
| Captained day charter | You | Company, aviso, AMP registration and passenger inspection, ATP, licensed captain, liability insurance, marina agreement, ITBMS | Fuel and fixed costs on slow days |
| Scheduled tours | You | As day charter, plus activity permits for the trip (MiAmbiente for whales, for example) | Capacity discipline and per-seat pricing |
| Overnight or term | You | As day charter; confirm the certificate and insurance cover overnight guests and the area | Crew rest, provisioning, remote anchorages |
| Bareboat | The charterer, under your contract | Company and aviso; AMP conditions for bareboat; insurance that accepts it | Guest competence and damage |
| Management programme | The operator | Owner: registration and contract. Operator: the full chain | Wear, accounting and contract terms |
| Broker or booking agent | Third-party operators | Company, aviso, ITBMS; ask the ATP whether you need a tourism registration as an agency or tour operator | Selling an operator who is not licensed |
The full permit list is in every licence and permit a Panama charter needs.
Day charters, tours and overnights: the operator chain
If you run the boat with your own captain, you are the operator. The chain is the same in all three: company, aviso de operación through Panamá Emprende, AMP registration and passenger inspection, ATP registration as marine tourist transport under Executive Decree 82 of 2008, a licensed captain, civil liability insurance, a marina or pickup agreement, and 7% ITBMS.
The differences are operational:
- Tours sell per seat, so every trip has a full passenger list of strangers and the boat often runs near its certified capacity. The AMP checks that number at the docks.
- Overnights raise questions a day certificate may not answer, such as how many people may sleep aboard and in which waters, so ask the AMP before you sell.
- Activity rules sit on top of the model: ARAP for fishing, MiAmbiente distances for whales, Guna rules in San Blas, ACP rules in Canal waters.
A law-firm summary of AMP practice also describes daily boat-condition forms for yacht leasing companies; ask the AMP what it expects from you.
Bareboat and management: who carries what
Bareboat. A law-firm summary of AMP practice describes bareboat as the owner handing over the vessel without crew, with the renter taking full control, and lists extra conditions: a responsible declaration, proof of ownership, a route assessment and special conditions on inspection, equipment and sailing documents. Insurers treat it as a separate risk. Before you offer it, confirm in writing with the AMP what applies to your boat and with your insurer that the policy covers it.
Management. The same summary says the contract between owner and operating company sets the price range, terms of use and limits of the service, that the authority asks for a copy, and that the owner keeps the right to supervise the boat's condition. It also says boats may fly a Panamanian or foreign flag if an AMP-authorised company manages the operation. For foreign flags, check the charter permit under Decreto Ejecutivo 4 of 2025 in foreign-flagged boats chartering in Panama.
Broker or booking agent
Selling other people's trips needs the least capital and the fewest vessel papers, but it is not paperwork-free. You still need a company, an aviso de operación for the activity you actually do, a RUC and ITBMS on your commission or sales. Whether you also need an ATP registration as a travel agency or tour operator depends on how you sell; ask the ATP before you launch.
Your real exposure is the operators you sell. If a guest is hurt on an unlicensed boat you booked, you will be asked what you checked. Keep on file, for every operator, the ATP registration, the AMP certificate and its capacity, the captain's licence and the insurance policy, and recheck them when they expire.
How to choose
- Little capital, strong sales skills: broker or booking agent, then move into operating.
- You own a boat and do not want a business: management programme.
- You want to run trips: start with captained day charters, add scheduled tours on fixed days, then overnights once the crew and boat are proven.
- Bareboat: treat it as an add-on for experienced guests, not a starting model.
The US version of this decision is in choosing a charter operating model. Back to the overview: how to start a boat charter business in Panama.
Your practical starting checklist
- Choose one model for the first season and write down why.
- List the licences that model needs and check which ones you already hold.
- Ask the AMP what your boat's certificate allows: passengers, area and overnight use.
- Ask your insurer which models the policy covers, in writing.
- If you are a broker, collect and file every operator's ATP, AMP, captain and insurance papers.
- Price the model with the cost categories before you take a booking.
Frequently asked questions
What is the most common charter model in Panama City?
The captained private day charter from the Amador causeway: a bay cruise, Taboga or a long day to Las Perlas. Scheduled shared tours are the second.
Is bareboat charter allowed in Panama?
A law-firm summary of AMP practice describes bareboat with extra conditions, including a responsible declaration and a route assessment. Confirm what applies to your boat with the AMP and your insurer.
Do I need an ATP registration to resell boat tours?
Operators of marine tourist transport register with the ATP. If you only sell other operators' trips, ask the ATP whether your activity needs its own registration.
Can I put my yacht in someone else's charter programme?
Yes, if the operator holds the licences and the contract sets price, use and limits. Keep the right to inspect your boat and a copy of every certificate.
¿Qué modelo de negocio de chárter conviene en Panamá?
Para empezar, el chárter privado de un día con capitán desde Amador es el más claro. Los tours compartidos, el chárter con pernocta y el bareboat añaden requisitos y riesgos.
The next question to answer
The pillar for the whole chain. Read How to start a boat charter business in Panama.
Price the model you picked. Read Charter costs and pricing in Panama.
Legal, insurable and sensible? Read Bareboat charter in Panama.
Same topic in Florida: coming from the US? Compare Choosing a Charter Operating Model.
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.
- Kraemer & Kraemer: Panama yacht charter regulations (secondary, law-firm summary) ↗
- La Prensa: Carnavales 2026, AMP detecta exceso de pasajeros en lanchas (secondary, press) ↗
- MICI / DGNTI: draft technical norm on tourism quality, land and maritime transport (2026) ↗
- DGI (MEF): ITBMS generalidades, tarifa 7% ↗