The type of residency visa you’re entitled to depend on the value of the purchased property. Once the property purchaser buys a property, he/she is automatically entitled to obtain a residence visa.
Applying for residency visa can be done:
either on the website of Federal Authority for Identity and Citizenship (ICA), which is the channel for citizenship and residency
OR the General Directorate of Residency and Foreigners Affairs (GDRFA), which works under the UAE ministry.