ADMIRALTY AND MARITIME 

                         LAW

The services provided are:

-         Ship registration

-         Public registry and merchant marine searches

Advantages are:

-         no restrictions on nationality to individuals or corporations

-         non minimum tonnage is required on any type of vessel

-         foreign vessel under charter for a period of two year renewable 

can be registered in Panama without loosing its original registration, 

likewise vessel, registered in Panama may be enrolled in a special 

foreign registry without loosing their Panamanian status.

-         Tax exemption profits derived from the operation of Panamanian 

registered  vessels are totally except from local income tax.  

-         Fleet discounts of up to 50% discount incentives  on the 

registration fees and annual taxes are granted to ship owners 

who wish to place three or more vessels under the Panama flag, 

provided that they belong to the some groups the combined gross 

tonnage exceed 50,000 tons.