Shipping registry
Overview
The Republic of Panama possesses the world’s oldest and largest open ship registry. Panama is a pillar of international maritime commerce.
One of the main reasons for this success is the strategic geographical position of the Panamanian Isthmus, the existence of the Panama Canal and looking to the future; the Canal’s expansion.
The Panamanian Merchant Marine was created through Law 8 of 1925. This law removed the existing citizenship and residence restrictions concerning vessel ownership. A new open registration system was adopted.
The Panamanian Registry now accepts ships with owners of any nationality, under the premise of fulfillment of all norms related to navigability, maritime security, contamination prevention and control, provision, titling and protection of the people of the sea, technical norms and social and tax issues.
Source: http://www.pan-investments.com/en/shipping.php?gclid=CImh_OmPxZgCFRIYegodoWpF0g
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