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Permanent Registration

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Once provided the original documents and the requirements established which can be presented in Spanish or English properly translated and duly notarized and legalized by a Panamanian Consulate or the Apostille he flag of the ship a signatory shall be permanent.

Documents require for the permanent registration ship are:

· Fill the Registration Form.

· Power of Attorney in favor of the Legal Representative of the ship.

· Bill of Sale and its acceptance, (if it is a purchase of an existing ship) or Builders Certificate, if the ship is a new one.

· Deletion Certificate if the vessel has only changed flags and remains registered under the same owner or under the same name.

· Purchase Agreement which must show the full name and contact details of the persons who will be acting in the name of the buyer and the seller. (The Purchase Agreement must contain the party’s intentions, the price, objects and causes, the acceptance Declaration of the sale and the Acceptance Declaration of the Purchase. Both documents duly signed by the parties involve duly authenticated before the Panamanian Consul with notarial functions. Both signatures must include the acceptance by the parties with regard to the sale and purchase) we have available the format of Sale Agreement that uses the Panamanian registry.

· Safety Management Certificate (SMC) This certification should be issued by the Panamanian Administration or by an organization recognized by the Administration to the ship owning company.

· Record (CSR). These documents are in regard to the entry into force of the International Ship Security and Port Facility Security Code (ISPS Code) on July 1, 2004. The ISPS Code requires that companies designate a Corporate Security Officer (CSO) for one or more ships and a Ship Security Officer (SSO) on each ship

· The International Ship Security Certificate (ISSC) and the Continuous Synopsis

· When the buyer and seller are juridical persons, should have the authorization to the person who acts on his behalf respectively, as well as the contact details of registration of legal persons.

· Former Registration Cancellation (no require for new ships). The consent of the Government of the previous flag is the proof that the ship is free of mortgages and any other tax and debts (copy of the insurance for single oil for tankers spills). Document of Compliance (DOC).