The mortgage contract, granted inside or outside of Panama, may be held in any language and must be in written in a public deed or a private document.

If it is celebrated by a private document, the signature of the grantors must be authenticated by a notary public or by a Consul of the Republic of Panama in the exercise of their notarial functions. 

The Panamanian Naval Registry allows the registration of naval mortgages on vessels that are under construction, for which it will be essential that it is registered in the General Directorate of Public Registry of Property of Vessels, the ownership title of the vessel that is intended to be mortgaged for which may be used the Building Certificate issued by the corresponding shipyard.

Our Consular office in Kobe may also perform the preliminary registration procedures which are simple and seek to protect the interests of the vessel’s owners and banking institutions.