Panamanian flag for the Turkish shipowner
6 August, 2021
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Panamanian flag for the Turkish shipowner
In shipping industry, the so-called flags of convenience still remain the most popular ones.
Panamanian flag for non-resident shipowners deserves special attention. It is an open register, i.e. vessels can be registered under the Panamanian owned both persons regardless of citizenship or place of registration.
An important factor is that Panama is in the Whitelist of the Paris Memorandum.
The Client, large Turkish shipping company, applied to Interlegal for changing owner of the vessels at the Panama Maritime Authority.
Interlegal lawyers successfully supported procedure for changing ownership and received a new Registration Patent and Radio License for the new owner – shipping company.
To settle this issue, lawyers applied to Interlegal associated office in Panama and appointed, among the local lawyers, a new authorized person in the Register for the Client’s vessels.
Due to teamwork of Interlegal Ukrainian and Panamanian offices, coordination of all actions, as well as thoughtful planning of actions upon this project, the Client could quickly receive new documents.
