Arosemena Noriega & Contreras

Author: anorcodigitalweb

  • Mandatory Update of the Taxpayer Registration Number (RUC) in Panama – What You Need to Know

    Mandatory Update of the Taxpayer Registration Number (RUC) in Panama – What You Need to Know

    MANDATORY UPDATE OF THE TAXPAYER REGISTRATION NUMBER (RUC)

    Dear Clients,

    Please be advised that the Panamanian Tax Authority (Dirección General de Ingresos – DGI) has recently implemented the application of the sanction identified as “318 – Tax Penalty” in the amount of USD 500.00 with respect to corporations that did not formally complete the Taxpayer Registry (Registro Único de Contribuyentes – RUC) update procedure, a filing that must be carried out before the corresponding tax authority.

    In this regard, our Firm has made the necessary updates. If any of your entities have been affected by the above, please contact us as soon as possible at +507 366-8400 or by email at anc-notificaciones@anorco.com.pa.

    We appreciate your maintaining the confidentiality of this communication. Our purpose is to bring this information to your attention in a timely manner to facilitate the adoption of the appropriate measures.

    We remain at your disposal to provide any legal support you may require.

  • Panama Canal at 111 Years: Future Diversification Projects

    Panama Canal at 111 Years: Future Diversification Projects

    Panama Canal at 111 Years: Future Diversification Projects

    The Panama Canal, one of the great landmarks of world engineering and a driving force of Panama’s economy, celebrated this year 111 years of operation. Since its opening in 1914, the interoceanic waterway has become a strategic pillar for global trade, facilitating the connection between the Atlantic and Pacific Oceans.

    On the occasion of this anniversary, the Administrator of the Panama Canal Authority (ACP), Ricaurte Vasquez, presented the entity’s vision for the coming years: to diversify activities beyond the operation of the waterway and strengthen the Canal’s role as a hub of logistical, energy, and social development for the country.

    The main projects included in this strategy are:

    1. Development of Port Terminals

    The ACP is evaluating the creation of up to four new port terminals, mainly on the west bank of the Canal.  The goal is to expand logistics capacity and recover a strategic model that will allow Panama to obtain greater benefits. For this, concession schemes will be reviewed so that the country receives a fairer return for the use of its assets.

    2. Energy Corridor

    One of the most ambitious projects is the construction of a pipeline between both banks of the Canal.  This corridor would be designed to transport Liquefied Petroleum Gas (LPG) and other fuels, helping to reduce congestion in the maritime route and optimize its operation.

    3. Complementary Road Ring

    The diversification vision is not limited to maritime and energy matters.  The ACP is also planning the construction of a road ring that would complement the land connectivity around the Canal, facilitating the transport of goods and people in strategic areas.

    4. Rio Indio Project: water security and drinking water

    One of the greatest challenges the Canal faces is water supply.  For this reason, the Río Indio Project is being promoted, which consists of the construction of a reservoir or artificial lake. This will be essential not only to guarantee the operation of the interoceanic waterway, but also to secure drinking water for millions of Panamanians.

    5. An Investment Plan

    All these projects are part of an investment plan estimated at USD 8 billion, which the ACP will carry out over the next decade. It is the most ambitious undertaking in years, aimed at consolidating the Canal not only as a maritime route but also as a comprehensive platform for logistics and energy services.

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  • The Importance of Food Labeling: Health, Law, and Consumer Rights

    The Importance of Food Labeling: Health, Law, and Consumer Rights

    The Importance of Food Labeling: Health, Law, and Consumer Rights

    Supermarket shelves are full of products that, in the war of promotions for the best price, become very interesting options for consumers. But do we really know what we are buying to feed ourselves?

    A Vital Ally for Your Health

    Food labeling is much more than a list of ingredients; it is vital information to protect our health and well-being. Reading labels is important to know the nutritional composition of what we eat, including the amount of calories, fats (saturated and trans), sodium, and sugars.

    Furthermore, labeling is a critical safety measure. The law requires products to clearly specify the presence of common allergens such as gluten, lactose, nuts, and soy. Ignoring this information can have serious or even fatal consequences for people with allergies.

    The Legal Basis: A Guarantee of Protection

    Labeling is not optional; it is a legal obligation. In Panama, the Technical Regulation DGNTI-COPANIT 46-444-2016and the Panamanian Food Safety Authority (AUPSA) are responsible for supervising compliance with these standards. The regulation requires producers to include truthful and clear information on the list of ingredients, nutritional value, net content, expiration date, and allergens.

    However, sometimes the lack of clarity on labels can be an obstacle. For this reason, the country is promoting the Frontal Warning Nutritional Labeling Law (EFAN). This initiative, backed by scientific evidence and endorsed by the Pan American Health Organization (PAHO/WHO), seeks to quickly and visibly warn if a product is “HIGH IN” sugars, fats, or sodium.

    The need for this law is urgent, since according to recent figures, 71.6% of adults in Panama are over overweight or obese, and an alarming 11.4% of children under 5 years of age already suffer from it.

    A Call to Action

    Creating a healthier and safer food culture not only benefits us individually but also helps our health system by reducing the saturation of  medical services.

    Reading labels is an act of self-care; it is a way to take control of our health and not be deceived. The next time you go shopping, take a moment to read the label and choose consciously.

    And if you feel that a product does not meet the information standards or that there is a deception, you can report it to APA, contributing to the safety of everyone.

    Gladys Bandiera Pittí Abogada/Lawyer

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  • Colon Free Zone Single Window: Panama’s One-Stop-Shop for Trade Facilitation

    Colon Free Zone Single Window: Panama’s One-Stop-Shop for Trade Facilitation

    Colon Free Zone Single Window: Panama’s One-Stop-Shop for Trade Facilitation

    The Colon Free Zone, recognized us one of the main free trade zones in Latin America, has implemented the Single Window for Procedures, a mechanism that centralizes various administrative and regulatory processes in one place.  With the participation of entities such as the National Customs Authority, the National Bank, the Fire Department, the Ministry of Health, the Ministry of Agricultural Development, and various departments of the Colon Free Zone, this platform allows that permits, payments, and key procedures be carried out more efficiently, reducing time, costs, and bureaucratic steps.

    This “one-stop shop” model, which will soon also feature a digital version, represents an important progress in the modernization of the public services and makes it easier for companies to establish and operate in the Colon Free Zone, strengthening Panama’s competitiveness as an international logistics hub.

    Furthermore, the Single Window aligns with international trade facilitation standards and helps position the Colon Free Zone as a more attractive, secure, and efficient business hub.  This measure reflects the Panamanian State’s commitment to transparency, efficiency, and the creation of a more favorable environment for sustainable economic growth for investors and foreign companies.

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  • Puerto Armuelles: Panama’s New Multipurpose Port and Economic Hub

    Puerto Armuelles: Panama’s New Multipurpose Port and Economic Hub

    Puerto Armuelles: Panama’s New Multipurpose Port and Economic Hub

    The Panama Maritime Authority (AMP) has redesigned the Puerto Armuelles dock project, in the Province of Chiriqui, transforming it into a multipurpose port that will boost the economic development of the western region of the country.

    With an investment of B/.21.2 million and an additional 35 hectares, the new port will feature modern infrastructure for storage, transportation, and industrial development. It is expected to generate at least 200 direct jobs during construction and even more once operational. Currently, the project is 48% complete, with an estimated delivery date in 2026. In parallel, new AMP offices in the region are also under construction, which are currently 40% complete.

    The port aims to reactivate the regional economy, attract investments, and strengthen maritime connectivity through the Pacific, positioning Puerto Armuelles as a new logistics and commercial hub for Panama.

    The private sector has welcomed the multipurpose port project in Puerto Armuelles with great enthusiasm. The AMP has reported numerous inquiries from companies interested in establishing operations in the area, reflecting high expectations for investment and confidence in the port’s logistical and commercial potential.

    René Gómez, President of the Panama Maritime Chamber (CMP), expressed support for the initiative, highlighting the importance of such projects in attracting vessels safely and efficiently. He also called for investment in English language education, pointing to it as a key tool for the development of the sector and for making the most of the opportunities that this new port will bring.

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  • Administrative Career in Panama: Merit-Based System or Bureaucratic Labyrinth?

    Administrative Career in Panama: Merit-Based System or Bureaucratic Labyrinth?

    Administrative Career in Panama: Merit-Based System or Bureaucratic Labyrinth?

    A Merit-Based System or a Bureaucratic Labyrinth?

    The idea of working for the Panamanian government often brings to mind a mix of job instability and good salaries. But is the Administrative Career a merit-based system, or simply a bureaucratic labyrinth?

    The answer to this question lies in the fundamental goals of the Administrative Career: To depoliticize public service and ensure that access, permanence, and promotion of public servants are based on merit, ability, and suitability. The purpose is clear: to have a professional, efficient, and skilled workforce that does not depend on the political-electoral cycle that occurs every five years.

    What benefits does the system offer?

    Accreditation in the Administrative Career is very attractive for public officials, as it gives them job security. Those who are accredited cannot be dismissed without a just cause and due process. Additionally, the system offers:

    • Competitive salaries.
    • Labor benefits.
    • Continuous training.

    Is accreditation in the Panamanian State Administrative Career truly transparent?

    Despite the objectives, it is often questioned whether the selection processes are truly objective or if political influences continue to weigh on the decisions. The accreditations aim to ensure that the personnel are technical and specialized, responding to the need for experts in crucial areas such as finance, law, health, education, and engineering. For this to work, it is crucial that the accreditation processes are evaluated by an independent body, with the participation of academia.

    The Administrative Career is vital for the government not to lose its institutional memory. Without it, the valuable “know-how” that the government invests time and resources in training would be lost. The idea is for accredited public servants to provide continuity to state programs and projects, regardless of the administration in office. This is crucial for the construction of a modern and efficient state.

     

    Gladys Bandiera Pittí Lawyer

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  • Global Minimum Tax and International Tax Framework Evolution

    Global Minimum Tax and International Tax Framework Evolution

    Global Minimum Tax and International Tax Framework Evolution

    The global minimum tax is an initiative led by the Organization for Economic Co-operation and Development and the Group of Twenty that was designed to address the allocation of taxing rights and the erosion of national corporate tax bases. The first phase was formalized in 2015 through the Action Plan on Base Erosion and Profit Shifting, introducing rules on transfer pricing, country-by-country reporting, and other measures aimed at enhancing tax transparency and integrity.

    The second phase was the result of subsequent developments in the global economy—particularly digitalization and the growing importance of intangible assets known as the Two-Pillar Solution.

    • Pillar One: focuses on reallocating taxing rights among jurisdictions, allowing countries where customers are located to tax a portion of the profits generated by certain large multinational groups, even when those companies do not have a physical presence there.
    • Pillar Two: introduces a global minimum corporate income tax rate of 15%, applicable to multinational enterprise groups with annual consolidated revenues of at least seven hundred and fifty million euros.

    Pillar Two operates through three core mechanisms:

    • The Income Inclusion Rule: A parent company must pay additional tax in its country of residence if its subsidiaries are taxed below 15% elsewhere.
    • The Undertaxed Profits Rule: This rule applies when the Income Inclusion Rule is not effective, allowing other group entities to account for the shortfall.
    • The Qualified Domestic Minimum Top-up Tax: This rule allows jurisdictions to collect the tax difference locally before it can be collected by other countries.

     The European Union adopted a directive making the rules applicable across Member States from January 1st, 2024, and countries including the United Kingdom, Japan, South Korea, and Australia have begun domestic implementation processes.  As of mid-2025, more than 140 jurisdictions have joined the Inclusive Framework.

    In essence, the global minimum tax, represents an ongoing multilateral effort to adapt the international tax framework to the structure of the global economy.

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  • Importance of the Employment Contract in Panama

    Importance of the Employment Contract in Panama

    Importance of the Employment Contract in Panama

    The employment contract in Panama is essential to consolidate the labor relationship, between the employer and the employee. Its importance can be summarized in the following points:

    1. Legal requirement compliance: It is mandatory according to the Panama Labor Code and must be executed in writing at the beginning of the labor relationship.
    2. Defines rights and obligations: It establishes the conditions of employment, protecting the employee against arbitrary changes.
    3. Proof in case of conflict: It serves as evidence before the Ministry of Labor or the labor courts.
    4. Legal stability: Gives certainty to both parties about the terms of the employment relationship, avoiding misunderstandings and reducing the risk of litigation.
    5. Social security and benefits: It is key for the employer to make contributions to the Social Security Fund and Unemployment Fund, and allows the employee access to benefits such as vacations, leaves of absence, 13th month, etc.
    6. Adaptation to different modalities: It may be for a definite term, indefinite term or for a specific job, depending on the nature of the work.

    In essence, the employment contract is not only a legal requirement, but an essential tool to protect the rights and obligations of both parties and strengthen the employment relationship.

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  • My Secure Retirement: Social Security Fund Digital Tool in Panama

    My Secure Retirement: Social Security Fund Digital Tool in Panama

    My Secure Retirement: Social Security Fund Digital Tool in Panama

    On August 6th last, the Social Security Fund made available to its beneficiaries in “MI CAJA DIGITAL” the functionality ‘MI RETIRO SEGURO’ to digitally calculate and compare benefits which correspond to each particular case, between the Disability, Old Age and Death Risk systems provided for in the Organic Law of the Social Security Fund.

    By Resolution No.474-2025-D.G., the Social Security Fund extended by five months the deadline for beneficiaries of the Defined Benefit Subsystem and beneficiaries of the Mixed Subsystem who retire before 1 March 2032 to exercise the option of switching to the Solidarity Capitalization Contributory Component.  During the period granted, the beneficiaries may freely and voluntarily change their minds.  The maximum extended date for switching to the new system is 18 August 2026.

    In accordance with the Unified Text of the Social Security Fund Law, beneficiaries enrolled in the Exclusively Defined Benefit Subsystem may expressly opt to participate in the Solidarity Capitalization Contributory Component, counting with a period of one year from the enactment of the reform of the Social Security Fund Law to exercise their option.

    In the same way, beneficiaries of the Mixed Subsystem who retire before 1 March 2032 may expressly opt to participate in the Solidarity Capitalization Contributory Component, counting with a period of one year from the enactment of the reform of the Social Security Fund Law to exercise their option.

    The five-month period that it took the Social Security Fund to develop and implement the ‘MI RETIRO SEGURO’ tool cannot reduce nor limit the one-year period for beneficiaries enrolled in the Defined Benefit Subsystem and beneficiaries enrolled in the Mixed Subsystem who retire before 1 March 2032 to exercise their option to switch to the Solidarity Capitalization Contributory Component.

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  • Panama Toughens Penalties for Sexual Crimes: New Legal Reforms 2025

    Panama Toughens Penalties for Sexual Crimes: New Legal Reforms 2025

    Panama toughens penalties for Sexual Crimes

    On June 24, 2025, Law 474 was enacted, modifying and adding articles to both the Criminal Code and the Criminal Procedure Code of Panama. The objective is to toughen penalties for sexual crimes and to strengthen procedural guarantees for victims, especially minors and persons with disabilities.

    The key reforms include:

    • Increased penalties for all crimes against sexual freedom and integrity, such as rape, lewd acts, and sexual offenses committed against vulnerable victims (children, adolescents, persons with disabilities, or in contexts of trust or authority).
    • Amendment to Article 220 of the Criminal Procedure Code: The amendment stipulates, that in plea agreements involving sexual crimes against minors or persons with disabilities, it is now mandatory to consider the opinion of the victim before validating the agreement.
    • New Article 279-A added to the Code of Criminal Procedure:

    The new article allows the possibility for the judge to assess the anticipated collection of testimony of the victims in cases involving crimes against sexual freedom and integrity. The parties may request that the judge authorize the use of technological means (such as videoconference, closed-circuit transmission, Gesell chamber, or similar tools), always with the support of specialized professionals.

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  • Panama Joins Mercosur as an Associated State: New Opportunities for Trade and Investment

    Panama Joins Mercosur as an Associated State: New Opportunities for Trade and Investment

    Panama as a New Associated State of Mercosur

    On the 6th of December 2024, Panama became an Associated State of Mercosur. The incorporation of Panama marks a strategic milestone for the regional integration and the economic strengthening of the country. By becoming an Associated State, Panama significantly expands its trade opportunities by joining one of the main economic platforms in Latin America. This step not only consolidates its position in the region but also allows it to participate in the exchange of trade, customs, and productive policies alongside full members such as Brazil, Argentina, Uruguay, Paraguay, and Bolivia, as well as fellow Associated States such as Chile, Peru, Colombia, Ecuador, Guyana, and Suriname.

    One of the main benefits for Panama is serving as a hub for exports between South and North America. As President José Raúl Mulino stated during a press conference on Thursday, July 17, Mercosur countries are especially interested in leveraging Panama’s logistics platform to boost their exports and reexports to markets in Asia, North America, Europe, and the Caribbean, which translates into new business opportunities, investments, and jobs for the country.

    Furthermore, Panama strengthens its appeal as a destination for foreign direct investment by offering greater legal certainty and access to regional value chains. Its association may also foster the transfer of technology, technical cooperation, and the development of regional infrastructures.

    There is no doubt, that the participation of Panama in Mercosur consolidates its role as a strategic bridge of the Americas.

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  • Panama Enacts New Special Regime for Banana Industry Workers and Independent Producers

    Panama Enacts New Special Regime for Banana Industry Workers and Independent Producers

    New Special Regime for Workers of Banana Companies and Independent Banana Producers

    Law 471 of 16 June 2025 establishes a new special regime for workers of banana companies and independent banana producers. 

    The main features of this new regime include:

    1. The workers of the banana companies and independent banana producers incorporated into the compulsory regime and the persons incorporated into the voluntary regime, will be entitled to economic benefits from the Social Security Fund, as a daily allowance for illness, as long as the illness causes a 30% incapacity to work, and the worker will benefit with 80% of the salary corresponding to the last two months of contribution at the time the illness occurs.
    2. To meet the benefits derived from the special pension from the Social Security Fund, the following resources will be allocated:
      1. Employers will contribute 2.5% of the salaries they pay to their employees.
      2. The State will contribute 6% of the wages paid to workers.
    3. Workers of banana companies and independent banana producers shall be entitled to early retirement due to old age when they meet the following requirements:
      1. Have reached fifty-eight years of age for men and fifty-four for women.
      2. Have worked in this activity for at least eighteen years.
      3. Have paid at least 266 contributions to the Social Security Fund.
    4. In the event of the death of the worker as a direct consequence of illnesses related to his work in the banana companies, the direct dependents (spouse, minor or disabled children) shall be entitled to a monthly pension equivalent to the basic monthly salary of the insured.
    5. The Social Security Fund will recognize a funeral allowance for those who can prove that they have paid the burial expenses, in the case of workers in banana companies and independent banana producers, provided that the insured person has paid six monthly contributions in the last twelve months prior to death.
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  • Panama Modernizes Its Fight Against Human Trafficking

    Panama Modernizes Its Fight Against Human Trafficking

    Law 458 of 2024: Key Step Against Human Trafficking

    Panama reaffirms its commitment with human rights through the modernization of its legislation against human trafficking. In this respect, Law 79 of 2011 established the foundation for a comprehensive policy on prevention, criminal prosecution, and victim protection. In support of said rights, Law 458 of 2024 is enacted, by which the country strengthens this framework by incorporating new international obligations and more effective technical tools to combat this serious human rights violation.

    Key advances of law 458 include:

    • The expansion of the definition of trafficking to include contemporary forms such as digital exploitation.
    • The principle of non-punishment of victims for acts committed as a direct result of their trafficking situation is reinforced, recognizing them as protected persons under international criminal law.
    • Immediate assistance measures are established, including urgent access to safe shelter, medical, psychological, and legal care.
    • Strengthens the Specialized Unit of the Public Prosecutor’s Office on Human Trafficking, granting it greater operational powers and resources to investigate and prosecute cases.
    • For the first time, corporate criminal liability is introduced for legal entities that benefit directly or indirectly from trafficking, along with the possibility of applying precautionary asset measures.
    • The National Committee Against Human Trafficking is institutionalized as the governing body of public policy in this area, enhancing its capacity for inter-institutional and international coordination.

    These reforms recognize Panama as an active player in the regional and global struggle against the  trafficking in persons. To this effect, the current legal framework integrates international standards and a victim-centered approach, consolidating a more humane, efficient, and committed system to eradicate this pernicions crime.

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  • Panama: A Country That Delivers – Off the EU Grey List and Moving Forward

    Panama: A Country That Delivers – Off the EU Grey List and Moving Forward

    Panama: A Country That Delivers

    Panama has taken a firm and decisive step toward strengthening its international reputation. Thanks to the collaborative efforts of both the public and private sectors, the country has gained the trust of international oversight bodies. The result? Panama is officially off the European Union’s grey list!

    Off the FATF Grey List: A Major Technical Milestone

    In October 2023, Panama was removed from the Financial Action Task Force (FATF) grey list, after demonstrating full compliance with the 40 recommendations issued by this international body. These guidelines aim to prevent money laundering, terrorist financing, and the proliferation of weapons of mass destruction.

    This achievement was not accidental; it was the outcome of a well-executed national strategy and sustained technical commitment.

    Why Was Panama Still on the EU List?

    Despite meeting the FATF’s technical standards, Panama remained on the European Union’s list of non-cooperative jurisdictions for political reasons. While the EU’s technical experts had recommended our removal, the final decision rested with the European Parliament, a political body with its own dynamics and interests.

    These “blacklists” or “grey lists” are tools used by entities such as the United Nations, the EU, and the OECD to push countries toward global standards and ensure protection against organized crime and financial abuse.

    Why Does This Matter to Everyday Panamanians?

    Being removed from these lists directly impacts Panama’s economy and financial opportunities. A stronger reputation translates into:

    • Easier international financial and commercial transactions
    • Better access to international credit and loans
    • Lower interest rates on public debt
    • Increased competitiveness and investor confidence

    In short: a more trusted Panama means a more prosperous Panama.

    The Critical Role of Lawyers and Technology

    Lawyers have played a key role in this achievement. They represent 97% of the Designated Non-Financial Businesses and Professions (DNFBPs) and have embraced technology as a strategic ally.

    By using the RUBF platform of the Superintendency of Non-Financial Entities, they successfully uploaded over 80% of all legal entities registered in Panama’s Public Registry—meeting obligations regarding ultimate beneficial ownership transparency.

    This commitment has not only helped improve compliance but also boosted business trust, creating better commercial opportunities.

    A New Way of Doing Business

    Legal professionals and business leaders alike understand that the way we do business has changed. Today, it is essential to:

    • Know your client
    • Apply proper due diligence
    • Assess the risks of each economic activity

    These are not burdens—they are strategic tools for making better decisions and enhancing Panama’s global image.

    What’s Next?

    Panama has done its part. Now it’s time to prove that our compliance was not just about getting off a list, but about building a more transparent and responsible country.

    We must now attract investors, double down on our efforts, and work toward economic growth, financial stability, and social wellbeing.

    Panama is not just off the list. Panama is stepping forward as a trustworthy, serious, and committed nation.

    Now more than ever, it’s time to protect our progress—and keep moving forward.

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  • Panama: Stability and Progress in an Uncertain World

    Panama: Stability and Progress in an Uncertain World

    Panama: Stability and Progress in an Uncertain World

    In a world defined by sudden shifts —from unstable political regimes to armed conflicts, terrorist threats, and economic crises— Panama stands out as a beacon of stability, neutrality, and openness. 

    While many countries halt in the face of uncertainty, Panama keeps moving forward. Its trade-driven economy continues to grow, drawing investment from around the globe. With its strategic location, robust banking system, competitive tax regime, and world-class logistics —thanks to the Panama Canal, the Free Trade Zone, modern ports, and the submarine cable systems connecting the Americas— the country becomes an ideal base for everything from multinational headquarters to small startups.

    Panama, however, offers more than just economic advantages. It is home to a warm, resilient, and hard-working population. International studies consistently rank Panama among the happiest countries in the world, driven by its tropical climate, cultural diversity, safety, and genuine hospitality.

    Panama has earned a reputation as a reliable, neutral business hub, free from extreme ideological tensions. Here, local and international talent come together to build, innovate, and grow.

    In a constantly changing world, Panama remains steady and adapts with agility. Always open to the world and always moving forward.

    Considering expanding your business to Panama or seeking new opportunities?
    Contact us for tailored legal advice.
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  • 5 Advantages of the Panamanian Ship Registry

    5 Advantages of the Panamanian Ship Registry

    5 Advantages of the Panamanian Ship Registry

    Panama is internationally recognized as one of the leading open ship registries. Its strategic location, strong institutional support, and extensive experience in the maritime sector have positioned its flag as one of the most sought-after by shipowners and operators worldwide. Over the years, the Panamanian flag has become synonymous with efficiency, reliability, and competitiveness.

    Below are 5 key advantages of registering a vessel under the Panama flag:

    1. Various types of registration options are offered depending on the owners’ needs, including: dual registration for chartering, special navigation registrations for delivery or scrapping of the vessel, among others.
    2. Discount percentages on registration fees, annual tax, and annual consular fees are available for economic groups with three or more vessels, for ships with no detentions in the last 24 months, for newly built vessels, and those enrolled in the MODUS program.
    3. Fast and efficient technical service available 24/7 through Maritime Security (SEGUMAR) 14 international offices. These offices provide ongoing support and technical guidance to users of the Panamanian registry, as well as the issuance of technical certifications essential to daily vessel operations.
    4. New issuance of digital documents with QR codes, which allows for fast delivery of certificates to vessel owners and helps reduce courier and document handling costs.
    5. Benefits for recreational vessels (such as yachts and pleasure sailboats) engaged in international service, which are subject to a fixed biennial fee of US$1,000.00 or US$1,500.00, depending on whether the vessel is owned by a Panamanian citizen, a Panamanian corporation, or a Panamanian private interest foundation.
    Interested in registering your vessel under the Panamanian flag?
    Contact us today for personalized advice.
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