Requirements
  The company employing you can manage your visa formalities. If you have family members who are dependent on you then you can sponsor them. However, your salary should not be below 4000 Dirham.
  You need to undergo a chest x-ray, a blood test and a medical test at stipulated hospitals for your visa. Your employer will issue a labor card that he will retain till you leave the Emirates permanently.

Renewal
 You need to get your resident visa in dubai stamped in order to get it renewed. Before doing this however you need to get a medical card from the Ministry of Health office after undergoing a medical test. This test is free for government employees.
You would need a photocopy of your passport and entry permit and a few copies of your photograph. The medical certificate can be collected after 3 days.
 After entering Dubai you have to submit your original passport, medical certificate, entry permit, 300 Dirham, filled in visa forms and security form and 7 photographs. This renewal is valid for 3 years.

Cancellation
Only the authority that has issued your resident visa in Dubai can cancel it. For the cancellation you need to produce the required forms and your original passport. The process will take you a day's time. The visas of your dependants must be cancelled before you cancel your own. The time that you can stay after your visa is cancelled will be specified in your cancellation form. Before you leave the place you need to give the form to your sponsor. If you belong to one of the Gulf Co-operation Council Countries you can go to Dubai without much formalities. You do not need an approval before going. Your visa can be issued after you reach Dubai.

For more information please visit http://uae-embassy.org/html/Consulate/General_Info.html