Self Sponsorship and residency by buying property!

As per Bahrain regulations:

The required terms to obtain the service:

Applicant must attend in person or through his legal representative to implement the service.
Applicant must not be working in governmental or private sectors of the Kingdom.
Applications must be separated in case of having more than one application and each request must have its own documents.
In case of residence cancellation, a grace period is to be given not to exceed three months from date of issuing.

The foreigner who has an owner of a property in Bahrain:

Service request form.
A clear copy of passport.
A clear copy of ID.
Certificate of good conduct deed.
A certified copy of the property stating that value of the property owned by the expat (in his name). The property value should not be less than 50.000 BD.
A valid certificate of health insurance issued from the Kingdom of Bahrain
The applicant must have a source of income sufficient enough to support himself and his dependents not to be less than five hundred Bahraini Dinars (500 BD) per month.
A copy of the applicant’s card or his legal representative
Copy of the electric bill
The owned residence property must be located in touristic zone. For example Al Juffair, Amwaj, Riffa Views, Busaiteen, Abraj Allulu, AlAreen, etc…

Submit the request of Self Sponsorship Residence Permit renewal before 6 month of its expiry.
Go to Nationality, Passport & Residence Affairs, make sure to provide the required documents and follow the submission procedures.
Fill out the application form and wait to be summoned.
Go to the concerned employee to submit the required documents.
Pay the fees and receive the receipt.