By eliminating property restrictions, Panama now holds one of the largest Marine Mercantile Fleets in the world.
Factors such as the lack of nationality requirements referring to the property of a vessel or yacht registered under a Panamanian Flag, the fact that the owner of the vessel may be a natural person or a corporation, Panamanian or foreigner, no weight or age requirements for the vessel and reasonable registry costs, have made of Panama one of the main open registry for vessels.
