What are the visa & residency requirements in Myanmar?

"In order to visit Myanmar, travelers must obtain a visa prior to arrival. The process of applying for a visa involves submitting an application form, a valid passport, and a passport-sized photograph to the Myanmar Embassy or Consulate in the traveler's home country. The visa application fee must also be paid. In order to obtain residency in Myanmar, applicants must submit an application form, a valid passport, a passport-sized photograph, and a copy of their current visa to the Immigration and Population Department. The application must also include a letter of recommendation from the applicant's employer, a copy of their employment contract, and proof of financial stability. The applicant must also pay a fee for the residency application. Once the application is approved, the applicant will be issued a residency permit," mentioned another expat when asked about moving to Myanmar.