Sheikh Mohammed also announced a 'remote work visa'.
The UAE Cabinet has approved a multiple entry tourist visa for all nationalities.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said the new scheme aims to "strengthen the UAE’s status as a global economic capital".
This came as Sheikh Mohammed chaired a Cabinet meeting on Sunday.
He had also announced a remote work visa that lets overseas remote working professionals reside in the UAE as they connect to work abroad virtually.
The new visa schemes are the latest in a string of reforms announced recently to boost the economy and help investors, entrepreneurs, qualified individuals and families.
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">We also approved a multiple entry tourist visa for all nationalities to strengthen the UAE’s status as a global economic capital. <a href="https://t.co/gkQU6mFbS5">pic.twitter.com/gkQU6mFbS5</a></p>— HH Sheikh Mohammed (@HHShkMohd) <a href="https://twitter.com/HHShkMohd/status/1373582163183075337?ref_src=twsrc%5Etfw">March 21, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The UAE had first announced multiple entry visit visas for tourists in January last year.
Sheikh Mohammed had said then that the first-of-its-kind visa is aimed at establishing the UAE as a major 'global tourism destination'.