What are the visa & residency requirements in Malta?

"In order to visit Malta, foreign nationals must obtain a visa prior to their arrival. The process of applying for a visa involves submitting an application form, providing a valid passport, and providing proof of sufficient funds to cover the duration of the stay. In order to obtain residency in Malta, foreign nationals must submit an application to the Maltese Immigration Department. The application must include a valid passport, proof of sufficient funds to cover the duration of the stay, and a valid work permit if the applicant is seeking employment. Additionally, applicants must provide proof of health insurance and a criminal background check. Once the application is approved, the applicant will be issued a residence permit," mentioned another expat when asked about moving to Malta.