Panama Yacht

Panama is definitely not a preferred country for a Panama Yacht purchase. The Flag is what the yacht owners are after when they head to Panama. This country offers vessel registration that is easy, "painless" and inexpensive. This has been elaborated below.

Panama is a very unique country, which lies in the middle of two continents, and connects both North and South America, and the Pacific and the Atlantic Ocean. The value of this land was realized during the dawn of all of the geographical explorations, when the first explorers crossed the so called Isthmus of Panama and encountered the Pacific Ocean. The Channel that was created to make crossing much easier allowing more ships to pass through had been built much later during this historical period.

Shestakov Yacht Sales: Your Source for a Panama Yacht

Panama is not a very prospering country, but to be fair, it makes great use of all advantages. Two thirds of the country's GDP is provided by tourism and international transit traffic. The laws here are the most lenient for Panama Yacht owners. Panama is not the preferred country for a yacht purchase, since Mexico, the Caribbean and the US are close by offering a good product for a fair price; however, on the other hand, registration services are an entirely different story. You can see a Panamanian flag in nearly every corner of the world. This may be attributed to local legislature permitting registration of any vessel to any individuals, even without Panama's citizenship. The fees are miniscule, and the time it takes for the registration process from start to finish is minimal. If you decide to buy a yacht in Panama and head out to sea immediately, it won't take much time to get prepared either.

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The yachting market is closely connected to the tourism industry in Panama. There are a lot of docks and Panama Yacht clubs, but even in more abundance are companies that provide chartering services. It is very easy to obtain clearance for a yacht to travel to practically anywhere, be it the Atlantic Ocean, the shores of the South America or the State of Florida in the United States of even the Pacific Ocean. Most of the yachts for sale in Panama are pre-owned and often very old, though the new ones are also there and are being sold at relatively attractive prices.