In Panama, sales brokerage and charter brokerage sit under different rules. Selling boats for a commission needs no licence, only a company, an aviso and tax registration. Chartering is regulated: AMP Resolution J.D. 089-2020 requires a Panamanian operating company with an AMP licence, and a charter-type navigation permit for each yacht.
Two different jobs
| Sales brokerage | Charter brokerage | |
|---|---|---|
| What you sell | Ownership of a boat | Time on a crewed or bareboat yacht |
| Who pays you | Usually the seller, out of the price | Usually the owner or operator, out of the charter fee |
| Panama licence | None for the broker | AMP operating licence for the company that runs the yachts |
| Key agency | AMP and Registro Público, for the transfer | AMP (DGPIMA for the licence, Marina Mercante for the permit), plus ATP for tourist transport |
| Rhythm | A few large deals a year | Many smaller bookings, high season December to April |
The Florida comparison is yacht sales vs charter brokerage in Florida.
The sales side
No licence, as explained in becoming a yacht broker in Panama. The rules are business registration, tax on commissions, and the AMP transfer under Ley 57 de 2008. They are set out in yacht broker rules in Panama. The broker manages the deal and the owner, buyer or their lawyer files the transfer.
The work is slow and document-heavy: a listing, a survey and sea trial, a lien certificate, a notarised contract and the AMP traspaso. A single sale can take weeks. The pay is one larger commission at the end.
The charter side: what J.D. 089-2020 requires
AMP Resolution J.D. 089-2020 created yacht chartering as an auxiliary maritime service, bareboat or crewed. Its main points:
- An operating company for yacht chartering, formed and registered in Panama, is required to request the service. It needs an operating licence from the AMP's Dirección General de Puertos e Industrias Marítimas Auxiliares. The fee is B/.1,500 a year per company and the licence is valid for up to 10 years.
- A charter-type navigation permit for each yacht, valid up to 12 months: B/.1,000 for a foreign-registered yacht, B/.500 for Panamanian international service, B/.250 for Panamanian interior service or pleasure permit.
- The company's duties: act as local operator and liaison with the AMP, register its yachts, keep a daily log, keep a 24-hour radio watch with daily contact, be the emergency contact, request departures and hold insurance.
- Insurance on each yacht, covering 13 listed risks including third-party liability, wreck removal, pollution and guests.
- Crew with AMP titles on Panamanian yachts, or STCW-state certificates on foreign ones. Bareboat charterers need a home-country certificate, and bareboat night navigation is banned.
The permit application includes a notarised charter contract with the operating company.
Where a charter broker fits
- Booking broker. You place guests on yachts run by licensed operating companies and earn a commission from the operator. You do not need the AMP licence yourself, but you should check the operator is on the AMP's list of companies with current operating licences, and that the yacht has its permit.
- Central agent or manager. You market and run owners' yachts. In Panama that makes you, or a partner, the operating company under J.D. 089-2020. The owner contract is a management agreement; see charter management agreements for your boat in Panama.
- Day-trip tours. Selling seats or short trips to tourists also involves the ATP's marine tourist transport registration. See charter licences and permits in Panama.
Foreign-flagged yachts visiting under Decreto Ejecutivo 4 of 2025 have their own charter-permit route; see charter operating models in Panama.
How the money moves
Sales: the buyer pays a deposit, ideally held by a lawyer or bank. The balance is paid at closing, and the broker's commission comes out of the seller's proceeds, plus 7% ITBMS if agreed that way. See commissions and listing agreements.
Charter: the client pays the charter fee to the operator or through the broker under a charter agreement. Larger yachts often use MYBA-style terms, with running costs paid separately. The commission is set by the contract. Ask for it in writing, and never hold client funds without a written trust arrangement.
Doing both
Many brokers do both. A charter client who loves a boat becomes a buyer, and a buyer who wants income becomes a charter owner. If you do both, keep them in separate contracts and, if you operate yachts, hold the AMP licence in the right company. Setup is in starting a yacht brokerage in Panama. Buyers checking you out will look at both sides; see checking out a broker in Panama.
Your practical starting checklist
- Decide whether you will sell boats, book charters, manage charter yachts, or a mix.
- For sales, set up the company, aviso and tax registration; no broker licence is needed.
- For booking-only charter work, confirm each operator is on the AMP list of licensed companies.
- For yacht management, form or partner with an operating company and apply for the AMP licence.
- Get a charter-type navigation permit for each managed yacht, with a notarised charter contract.
- Keep sales and charter work under separate written agreements.
Frequently asked questions
Do I need a licence to be a charter broker in Panama?
To operate or manage chartered yachts, the company needs an AMP operating licence under J.D. 089-2020. To place clients with licensed operators, no broker licence exists, but you should book only licensed companies.
How much is the AMP yacht-charter operating licence?
J.D. 089-2020 sets B/.1,500 a year per company, with the licence valid for up to 10 years. Confirm the current fee with the AMP.
Does each charter yacht need its own permit?
Yes. A charter-type navigation permit valid up to 12 months: B/.1,000 for foreign-registered yachts, B/.500 for Panamanian international service, B/.250 for interior service, under J.D. 089-2020.
Can a sales broker also manage charters?
Yes, if the management is done through a licensed operating company. Keep the sales and charter contracts separate.
¿Qué se necesita para ser corredor de alquiler de yates en Panamá?
Para administrar yates en alquiler, una empresa operadora panameña con licencia de operación de la AMP según la Resolución J.D. 089-2020, y un permiso de navegación tipo chárter por yate. Para solo colocar clientes, trabaje con empresas que tengan licencia vigente.
The next question to answer
The owner-operator contract. Read Charter management agreements in Panama.
The sales career path. Read Becoming a yacht broker in Panama.
The full licence chain. Read Charter licences and permits in Panama.
Same topic in Florida: coming from the US? Compare Yacht Sales vs Charter Brokerage.
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: Resolución J.D. 089-2020, yacht chartering auxiliary maritime service ↗
- AMP: list of companies with current operating licences (DGPIMA) ↗
- Kraemer & Kraemer: Panama yacht charter regulations, owners and companies (secondary, law-firm summary) ↗
- Ley 57 de 2008, Ley General de Marina Mercante (Justia copy) ↗