A grand entrance in residence gains respect (6)
I believe the answer is:
homage
'respect' is the definition.
(I know that homage is a type of respect)
'a grand entrance in residence' is the wordplay.
'entrance' says to take the initial letters.
'in' is an insertion indicator.
'residence' becomes 'home' (home is a kind of residence).
The first letter of 'grand' is 'g'.
'a'+'g'='ag'
'ag' placed into 'home' is 'HOMAGE'.
'gains' acts as a link.
(Other definitions for homage that I've seen before include "Show of respect to someone" , "Public tribute" , "Honour or respect shown publicly" , "Due respect" , "Formal expression of respect" .)