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Tradition and Experience Bierman Pautt range of related services and specialized in the maritime industry, such as ship registration and incorporation of companies f Sierra Leone, Bolivia and Cambodia, to name a few. At Bierman Pautt quality, reliability, confidentiality and supported by experience and wisdom are our main addition, we are strongly commited to continuous improvement and inmovation designed for complete customer satisfaction. A Prestigious Team of Experts Our professional team provides legal services with the goal of satisfaction of the client´s needs and interest as a priority, and ethical standards, where each case is handled with strict Furthermore, Bierman Pautt is located strategically near the Panama Maritime Authority headquarters, which permits is to deal with every client´s request in a expeditious manner.


Our Services Choosing Bierman Pautt, as your legal representative will assure you that just a short time you can obtain optimal results. List of Services We have the capability to assist ship owners with registration, incorporation of companies, ship mortgages and other requirements. For your guidance the - Provisional & Permanent Registration of Ships - Change of Ownership (Re-registration) - Particulars Change (name, tonnage, dimensions, type & RAA) - Special Registration (valid for three (3) months, for single voyage, special delivery, scrap including Patent & Radio License). -

Registration of Yachts BBC-In Registration BBC-Out Registration of Ships Mortgages Discharge of Mortgages

- Search Report (vessel or company) - Application for re-issuance of Patent and / or Radio Station License (due to Loss) - Reserving Ship´s Name -

Application for MSMC Applications for ISSC Full Term Application for CSR Applications for ISM Endorsements Applications for CSO Endorsement Application for Discount from Panama Maritime Administration (PMA) Incorporation of Companies Dissolution of Companies

- Commercial or Maritime License

Ship Registration BIERMAN PAUTT can provide complete, provisional and permanent registration i nationality of owner or crew members of the vessels. Our services will allow you to obtain all these benefits at very low rates. Since 1925, the Republic of Panama has the responsibility of administering the through its open registry. Panama is currently implementing new programs with the purpose of making the Registry one of the most active in the international for ship owners, becoming one of the world´s most prominent jurisdictions for country are tax exempt in Panama. Additionally, the Registry does not require that vessels be owned by residents of Panama. However, if the vessel is owned by a Panamanian entity there is limited liability in cases of mishaps or accidents to the ship.

1. The owner may be any natural or juridical person of any nationality, and may register a vessel under the Panama Flag, through a Panamanian Law 2. The Republic of Panama is signatory of all major international maritime conventions. 3. Income related to the sale of a vessel is not taxable by Panama, as well as the revenues arising from international maritime commerce. 4. Direct contact with Panamanian consulates abroad and with the local 5. There is no minimum tonnage requirement for the registration of a vessel. 6. Costs are reasonable for registering a vessel.


Procedures for Registration The procedure for registration of a vessel under the Panamanian Flag is very simple submitting the relevant documentation with the appropriate fees, which is based on the gross, net tonnage (ITC-69) and the type of vessel. The provisional registration, valid for six months, can be obtained within two (2) business days. It may be extended for an additional three (3)month period upon payment of a penalty fee of US$500.00 to the Panama Maritime Administration. Required Documentation: (if tanker copy of IOPP & its suplement) 3. Power of Attorney tugs the following applies: • Owner AďŹƒdavit The Permanent Registration can be processed as soon as we receive the original documents required, duly legalized by a Panamanian Consulate or apostilled with a duration of five (5) years, renewable. The time required is approximately 5 to 7 business days. Required Documentation: 1. Bill of Sale & Acceptance of Sale *

* *

4. Power of Attorney *

* Note: The above documents from 1-4 must be legalized by a Panamanian Consulate or apostilled to fulfits with the legal requirements; technical certificates do not need legalization.

Yacht Registration Panama is the most widely chosen jurisdiction for yacht and ship registration in the world. The Panamanian Ship Registration Law offer very flexible terms and affordable cost for yacht registered in the Republic of Panama. Any yacht or pleasure vessel, or vessel qualified as such by IMO, may be registered for a two (2) year renewable period. One of the advantages for registering pleasure yachts is that there is a flat registration fee, regardless of the size or tonnage of the yacht. When the yacht is property of a Panamanian company or an individual, the fee is $1,000.00. if it owned by a foreign company or individual, the registration fee will be US$1,500.00. These fees must be paid every two years, at which time the navigational documents must also be renewed. For provisional registration of yachts, you must provide the following: • An affidavit – stating that same it is for pleasure only and not for commercial use. • Copy of Bill Sales as evidence of ownership.

Mortgage Registration An important consideration in the growth of the fleet has been the confidence generated in the international financial community by the security of mortgages over Panamanian registered vessels. As per Panamanian Law, the registration of Ship Mortgage requires that same to be executed subsequent to emission date of the Provisional Navigation License. The preliminary registration is valid for six (6) months, during which time the permanent registration must be executed through your law firm in Panama.


Bare Boat Charter Registration ( BBC ) The Ships of foreign registry may apply for Bare Boat Charter Registration for a period not exceeding two (2) years, renewable without giving up her registry of origin, provided that the mother government allows the charter registration. To qualify for the bare boat Charter Registration under the flag concerned charter party shall submited the following documents: - Letter of Consent (or permission) of current flag - Copy of Certificate of registry under current flag - Owners consent to charter registration - Copy of charter contract with date of contact - A free form encumbrance certificate duly legalized by Panamanian Consulate - If the vessel holds a mortgage an authorization letter from the bank is required to be duly legalized by Panamanian Consulate - The department of Ship Register of the Directorate General of Merchant Marine will issue a patent to the vessel under BB charter valid for two (2) years, the ship has the same tax obligation imposed by the Panamanian Legislation, which must be settled at the time of registration to the Panama Merchant Marine. The Radio Station License (RSL) is issued provisionally and afterwards owners must apply for the permanent radio station license by completing an application form and providing copy of inmarsat activation details. When completed and submitted, Panama will issue the full term RSL for the same period of the full term patent (2 years).


Deletion of Ship Registration The vessel must be in good standing with the PMA, no change will proceed if she owes taxes, has an open case of a casuality, open case of detentions, and/or any other remark. Therefore a research is mandatory. There are three kinds of deletions, and different requirements for each case. Deletion of a vessel with a provisional navigation patent A research is required to find the provisional registry had been registered in the Public Registry Office, and if a mortgage had been registered. If the vessel does have a registered mortgage, it must be cancelled prior the deletion. Deletion of a vessel with a Full Term navigation patent If a vessel has Full Term navigation patent, the applicable mandatory documents and its translations have to be included in the official file of the vessel. If Bierman Pautt was not previously the law firm, the Power of Attorney duly legalized, must be submitted. If the vessel had been registered through the new registry system (PKI), it is necessary to request the change of legal representative prior the deletion (This apply for the deletion and other processes). Deletion of a vessel under BBC It is necessary to make a research of the vessel´s status. Verify that she does not have any remark that forbids her deletion from the flag. The client must provide us the following documents, duly apostilled or certified by a Panamanian consul Power of Attorney-AFFIDAVIT where the parties establish their willing to finalize the contract and the reason (it could be for returning to the main flag, for sale, or she going to be scraped). If the party that is requesting the charter of deletion is not the owner of the vessel, the owner must issue a declaration stating that the chatterer is authorized to delete the charter of the flag.


Incorporation of Offshore Companies Our expertise in offshore incorporation spans the globe with special emphasis on jurisdictions that offer asset protection and tax advantages including Panama, Belize, and The British Virgin Islands among others. The Benefits of Offshore Incorporation There are many benefits from the establishment of an offshore presence. Preliminary, significant legal tax advantages are a motivating goal. Confidentiality, security and competitive market place advantage are among other encouraging factors. - The nonpayment of taxes in Panama of any kind by utilities or dividends that are obtained form activities developed outside the Republic of Panama. - Low cost of Constitution - Low Maintenance Cost - The capital share can be expressed in any currency. - Complete anonymity of names of the shareholders of the company. Shelf companies are pre-registered offshore companies suitable for certain clients who can benefit from this service and can be made available to the client through us. These are incorporated companies, fully documented in accordance with the laws of their country of origin. Steps for incorporation of companies: Step 1: Choose a suitable jurisdiction to incorporate your company. Step 2: Complete our application form, providing the company name, directors and shareholders. Step 3: Provide the required due diligence. Step 4: Incorporate your company. Step 5: We provide with the original corporate documents including Articles of Incorporation, Book of Shares and Certificate of Incorporation, duly apostilled.

Special Assignment Registration

Special Assigment Registration

This registration is where the Panama Maritime Authority will provide, as per owners request, the following details for vessel under construction: A- Patent Official Number B- Radio Call Letters C- MMSI Number Applicants will need to pay the registry fee; it is understood that this “SPECIAL ASSIGMENT” registration will allow the interested party to initiate the process for obtaining the respective certificates from their Recognized Organization. It is also understood that this registration cannot be utilized to sail until all necessary documents have been properly submitted to the competent authority. When the complete documentation is submitted, the respective registration documents (“Provisional patent” & Radio License) will be issued and the interested party shall pay the Annual Single Rate, Annual Tax, Inspection Tax, and any Other applicable taxes and fees.


“Tradition, Wisdom, and Experience at Your Service.”

Bierman Pautt Magazine  
Bierman Pautt Magazine