What are the visa & residency requirements in Switzerland?

"To enter Switzerland, most foreign nationals require a visa. Depending on the citizenship and circumstances of the traveler, the appropriate visa can be acquired from either the Embassy or Consulate General of Switzerland in their home country. The visa application process includes submitting basic documentation such as a valid passport, passport photos, and a completed visa application form. Other documentation such as a proof of financial stability, travel itinerary, or an invitation letter may be required. To apply for residency in Switzerland, foreign nationals must provide documents such as a valid passport, a curriculum vitae, tax returns, and a valid bank statement. Depending on the applicant’s circumstances, additional documents may be required. Completed applications are submitted to the relevant cantonal immigration authorities in Switzerland. The authorities can then issue a legally binding residence permit. Once approved, the applicant will receive a residency permit valid for a period of 1-5 years. In some cases, residency may be renewed by submission of a renewal application," said another expat in Switzerland.