A foreign-flagged yacht visiting Panama is admitted temporarily: it stays on its cruising permit, pays no import duty and cannot be sold or used commercially in Panama. Panama's 2025 nautical tourism decree treats a yacht in Panamanian waters for up to 24 months as in transit. Selling it to a local buyer or keeping it permanently means a definitive import through Aduanas, with duty and 7% ITBMS. Confirm the details with Aduanas and a customs broker.
How long a foreign yacht can stay
Three time limits run at once, and they are not the same:
- The vessel's transit status. Decreto Ejecutivo 4 of 2025 defines an embarcación en tránsito as one that stays in Panamanian waters for no more than 24 months.
- The cruising permit. Cruisers report a one-year permit, renewable; the same decree grants a free special navigation permit for the first three months and an exemption from arrival and anchoring taxes and fees for stays of up to one year. See the cruising permit.
- The crew's immigration stamps, which are personal and usually shorter; see visa rules for boat crew.
We could not open the Autoridad Nacional de Aduanas website to confirm how customs itself records a yacht's temporary stay or whether it sets its own deadline. Ask Aduanas at clearance what your boat's admission period is and get it in writing.
Temporary vs definitive import
| Temporary admission (visiting yacht) | Definitive import (nationalised) | |
|---|---|---|
| Flag | Stays foreign | Usually re-registered in Panama with the AMP |
| Duty and ITBMS | None while it stays a visitor | Import duty plus ITBMS |
| Time limit | Yes: transit status and permit term | None |
| Sell to a Panamanian buyer | Not as is | Yes |
| Charter in Panama | Only under the decree's charter permit with a licensed local operator | Yes, with ATP and AMP licensing |
On the cost of a definitive import, the US Commercial Service's guide says Panama charges ITBMS (its VAT) at 7% on the CIF value plus import duty and handling charges; duties are ad valorem on the CIF value. We could not confirm the current duty rate for pleasure craft from an official tariff page. Only licensed customs brokers can assess customs duties, so get a broker's quote before you commit.
Leaving the boat in Panama while you fly home
Plenty of owners leave a foreign boat in Panama between seasons. The Caribbean side's marinas with yards and dry storage, such as Shelter Bay and Linton Bay, are common choices; Pacific options are in Panama City marinas and boat storage.
- Keep the cruising permit valid while the boat is away from you, or renew it before you fly.
- Sign yourself and the crew off the crew list, so Migración's records match your departure by air.
- Leave copies of the registration, permit and your contact details with the marina office.
- Note that the 2025 decree says the Ventanilla Única records stays whether a vessel is crewed or not, so the boat's clock keeps running while you are away.
Selling a foreign yacht in Panama
Selling to someone who will take the boat out of Panama, keeping it on a foreign flag, is the simplest case: ownership changes under the flag state's rules, and the buyer clears out as a visitor. Selling to someone who will keep it in Panama usually means a definitive import first, then registration with the AMP's Registro Público de Naves. Who pays the duty and ITBMS is part of the price negotiation; put it in the contract. The buyer's side of that process is in buying a boat in Panama City.
Common traps
- Letting the permit lapse while the boat sits in storage. Renew before you leave the country.
- Informal chartering on a visitor's permit. The decree provides a specific charter permit; use it or do not charter.
- Assuming the crew's stamp and the boat's time match. They do not.
- Selling first, asking customs later. The buyer's lawyer will ask, and so will the AMP registry.
- Relying on old forum posts for fees. Rules changed in 2010 and again in 2025.
Your practical starting checklist
- Ask Aduanas at clearance what admission period your yacht has, and keep the paper.
- Diary the cruising permit expiry and the 24-month transit limit.
- Before flying home, renew the permit if needed and sign crew off the crew list.
- If selling locally, get a customs broker's quote for duty and 7% ITBMS first.
- Write who pays import costs into any sale contract.
Frequently asked questions
Can I charter my foreign-flagged yacht in Panama?
Not on a visitor's cruising permit. The 2025 nautical tourism decree provides a separate free special navigation permit for charter, tied to a charter contract with a locally licensed operator. Talk to the AMP and the operator before taking paying guests.
What happens when the 24 months run out?
The decree's transit status ends, so you need to leave Panamanian waters or regularise the boat through a definitive import. Plan the decision months ahead; a customs broker can tell you the current options.
How long can a foreign boat stay in Panama?
Panama's 2025 nautical tourism decree treats a yacht as in transit for up to 24 months. The cruising permit is usually one year, renewable. Confirm the customs side with Aduanas.
Do I pay import duty on my yacht if I keep it in Panama?
Not while it stays a visiting yacht on temporary admission. A definitive import attracts import duty plus 7% ITBMS on the CIF value and duty; get a broker's figure.
Can I sell my US-flagged boat in Panama?
Yes, but if the buyer keeps it in Panama it normally has to be imported definitively and registered with the AMP. Talk to a customs broker and a maritime lawyer before you agree a price.
¿Cuánto tiempo puede permanecer un yate extranjero en Panamá?
El Decreto Ejecutivo 4 de 2025 considera embarcación en tránsito a la que permanece hasta 24 meses en aguas panameñas. Confirme con Aduanas el régimen de admisión temporal de su yate.
The next question to answer
The permiso de navegación: who needs it, cost, validity. Read Panama cruising permit.
Title, registration and paperwork for a purchase. Read Buying a boat in Panama City.
Where to leave a boat on the Pacific side. Read Panama City marinas and boat storage.
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.
- Gaceta Oficial: Decreto Ejecutivo No. 4 de 11 de febrero de 2025, reglamentación del turismo náutico (arts. 2, 3, 12–14, 16) ↗
- US Commercial Service: Panama customs regulations (ITBMS 7% on CIF + duty) ↗
- PwC Tax Summaries: Panama other taxes (ITBMS 7%) ↗
- Noonsite: Panama cruising permit regulations effective 1 July 2010 — secondary, historical ↗
- Noonsite: Clearing into Panama, cruiser reports 2012–2019 — secondary, dated ↗