File Photo: A private yacht cruises in the Red Sea. AP
According to a statement issued by the Suez Canal Authority (SCA) on Wednesday, the exemption applies to yachts stopping at the Ismailia Yacht Marina for not less than ten days, starting from the day following the yacht's arrival date at the marina.
The SCA also announced further fee reductions for long-term berthing and storage fees at the Ismailia Yacht Marina.
A 50% discount will be granted to yachts stored between 30 and 90 days, increasing to 70% for yachts stored for over 90 days, up to a maximum of 180 days.
The announcement came during the Monaco Yacht Show at Port Hercules, France, and is part of the SCA’s endeavours to become a global yacht tourism hub in the Middle East.
The Monaco Yacht Show is an international event highlighting the most current developments in the yacht industry.
Egypt has been working to remove all obstacles to foreign yacht tourism along the Egyptian coasts and capitalize on its unique geographical position with waterways linking Asia and Africa to Europe.
The government has recently decided to grant foreign yacht tourists three-month visas, as opposed to the previous one-month allowance.
In July, the Egyptian Foreign Ministry announced that tourist yachts can now apply for and receive their visas through a specialized online portal.
Through the Yacht Single Window, foreign yachts can apply for and receive their visas within 30 minutes, with fees paid in US dollars.
Yachts can now enjoy the flexibility to leave Egypt from any tourist port, not only the port where they first arrived, as was the rule under the previous system.