What are the visa & residency requirements in Puerto Vallarta?

"In order to visit Puerto Vallarta, visitors must obtain a visa from the Mexican consulate in their country of origin prior to entering the country. The application process for a visa in Mexico requires providing personal information, such as passport data and proof of means to support one's stay. Supporting documentation may include financial details and current medical records, depending on the type of visa. When applying for residency in Puerto Vallarta, Mexico, individuals must be legally admitted to the country and properly register at the National Registry of Foreigners. Along with a valid passport, applicants will need to provide evidence of financial stability, proof of income and a valid local address. Furthermore, they must also show proof of valid health insurance, among other documents. Once all the necessary paperwork is submitted, a residence card is issued and must be renewed on a regular basis," remarked another expat in Puerto Vallarta, Mexico.