The UAE Cabinet has approved an integrated entry visa scheme to attract qualified and highly talented professionals to the country, a Wam news agency report said.

The implementation of the new system will be carried out over a number of phases. The first phase includes tourism, health and educational visas. The second phase will include talent acquisition in health, scientific, research, technical and cultural fields, it said.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, presiding over the Cabinet meeting, called for establishing specialised committees to prioritise the sectors that will benefit from the talent acquisition visa, and to put forward a plan to attract regional and global exceptional talents.

The newly introduced visa scheme provides additional support to vital sectors in UAE such as tourism, health, and education by strengthening their business areas and promotes global competitive edge. Lifestyle, practical policies for financing, and infrastructure are major advantages to attract talents and multinational companies to operate in UAE, the report said.

The Cabinet also approved the accountancy standards guidebook, and the standard financial policies and procedures guidebook for the Federal government based on eligibility suggested by the Ministry of Finance in line with adopting international standards for managing the financial resources of the Federal government, and enhancing transparency through policies alignment and strengthening the efficiency of the financial practices and legislations.