Newbie with lots of questions

[tdhotti]

I fell in love with Panama 30+ years ago while stationed here with the US Army. Also fell in love with a Beautiful woman shortly thereafter. I got shipped out and we lost contact. About 3 years ago I told my daughter that I was going to buy a sailboat and head to Panama.


Two years ago, I got back in contact with my tropical Latina Princess. Since then we have married and I am in the process of liquidating all of my stuff for the move to Panama.


My question is. Has anyone bought an inexpensive boat and sailed it to Panama and how much were the duties and taxes?

[Adelie]

Welcome.

I would suggest updating your profile with your general location and your boat make & model or “Looking” in the "Boat" category. This info shows up under your UserName in every post in the web view. Many questions are boat and/or location dependent and having these tidbits under your UserName saves answering those questions repeatedly. If you need help setting up your profile then click on this link: https://www.cruisersforum.com/forums...ml#post3308797

If you need further help let me know, I would be happy to.

[GordMay]

Greetings and welcome aboard the CF, tdhotti.

[tdhotti]

Thanx GordMay. I just tested positive for the Controlya virus yesterday so now have 14 day quarantine. I truly believe that if a man is to be quarantined in a Tropical Paradise, it should be on a boat with a fishing pole and plenty of drinkable antiseptic.

[boatman61]

I guess it depends on whether you plan to have the boat flagged USA or get it Panamanian registered...

• The household goods, personal effects, and the car are duty free, but are subject to an ITBM tax (VAT) of 7%. • All shipments will be personally inspected at the entry port. • For an additional fee to the Panama government, the inspection can be done at the person’s residence at the time of delivery.

If you plan on registering it in Panama that's $1,500, $1000 if a Panamanian citizen.
This is good for two years before needing renewal.

[tdhotti]

Originally Posted by Adelie

Welcome.

I would suggest updating your profile with your general location and your boat make & model or “Looking” in the "Boat" category. This info shows up under your UserName in every post in the web view. Many questions are boat and/or location dependent and having these tidbits under your UserName saves answering those questions repeatedly. If you need help setting up your profile then click on this link: https://www.cruisersforum.com/forums...ml#post3308797

If you need further help let me know, I would be happy to.

Thank you Adelle. I updated my profile as you reccomended.

[tdhotti]

Originally Posted by boatman61

I guess it depends on whether you plan to have the boat flagged USA or get it Panamanian registered...

• The household goods, personal effects, and the car are duty free, but are subject to an ITBM tax (VAT) of 7%. • All shipments will be personally inspected at the entry port. • For an additional fee to the Panama government, the inspection can be done at the person’s residence at the time of delivery.

If you plan on registering it in Panama that's $1,500, $1000 if a Panamanian citizen.
This is good for two years before needing renewal.

I am not intending to apply for citizenship, just permanent resident on Pensinada visa. My wife is Panamanian though. I guess as I get closer to pulling the trigger, I will have to see which way to go with registering it. If I can keep it in permanent transit then maybe US registration is the way to go.

[jim King]

would it not be easier to find a boat already in Panama and registered there?

[Don C L]

Originally Posted by jim King

would it not be easier to find a boat already in Panama and registered there?

That was my first thought too.

What a story! Welcome aboard here tdhotti!

[joelhemington]

Originally Posted by tdhotti

I fell in love with Panama 30+ years ago while stationed here with the US Army. Also fell in love with a Beautiful woman shortly thereafter. I got shipped out and we lost contact. About 3 years ago I told my daughter that I was going to buy a sailboat and head to Panama.


Two years ago, I got back in contact with my tropical Latina Princess. Since then we have married and I am in the process of liquidating all of my stuff for the move to Panama.


My question is. Has anyone bought an inexpensive boat and sailed it to Panama and how much were the duties and taxes?

Seems to me like you could find a much better deal on a boat already in Panama than buy one up here and sail it down. Depending on which side of the canal you want to be on, it could cost an additional two grand.

[tdhotti]

I just don't see a lot of loans in the classfields locally.


From wat I am reading lately though there may be more ships on the Colon side and just bring i through the canal.