Panama is in the vanguard of the most important changes that have impact on today’s global maritime industry. We control the largest fleet in the planet; our country is the main transshipment center of Latin America; and with the broadening of the Panama Canal it will surely become acknowledged as one of the largest maritime hubs in the world.
Due to the great importance that the International Maritime Industry has in our country, the practice of Maritime Law acquires particular relevance in the firm Carles Barraza Abogados. Our legislation of open Registry offers many advantages and benefits to our clients and shipowners. Panama has simple procedures and the technological advantages in the corresponding public institutions make the registration of ships an easy process. We offer services that range from routine procedures to obtain radio licenses, certifications and issuance of documents required by vessels to the registration of the ship. The exemption of income tax and competitive costs have caused Panama to become a leader country in the registry of the Merchant Navy on a worldwide scale as well as the country with the flag under which the largest number of ships in the world are registered.
The Republic of Panama has at present a highly developed port system both in the Pacific coast and in the Atlantic side, and its exponential growth springs from the multinational companies that consider trustworthy the future of our country.
Panama consolidated its position as a world leader both in registration of ships and gross register tonnage. In May 31, 2011, the gross register tonnage increased approximately to 12.3% relative to the same period in the year 2010.