What are the visa & residency requirements in Panajachel?

"In order to visit Panajachel, visitors must obtain a visa from the Guatemalan Embassy or Consulate in their home country. The visa application process typically requires a valid passport, a completed application form, a passport-sized photograph, and a fee. Depending on the type of visa, additional documents may be required. In order to obtain residency in Panajachel, Guatemala, applicants must first obtain a visa from the Guatemalan Embassy or Consulate in their home country. After arriving in Guatemala, applicants must then apply for a residency permit at the Immigration Office in Guatemala City. The application process typically requires a valid passport, a completed application form, a passport-sized photograph, and a fee. Depending on the type of residency permit, additional documents may be required," mentioned another expat when asked about moving to Panajachel, Guatemala.