What are the visa & residency requirements in Finland?

"In order to visit Finland, foreign nationals must obtain a visa from a Finnish embassy or consulate prior to their arrival. The type of visa required depends on the purpose of the visit, such as tourism, business, study, or work. Applicants must provide a valid passport, a completed visa application form, and supporting documents such as proof of financial means, a letter of invitation, and a valid travel insurance policy. In order to apply for residency in Finland, foreign nationals must first obtain a residence permit. The type of residence permit required depends on the purpose of the stay, such as work, study, family reunification, or entrepreneurship. Applicants must provide a valid passport, a completed residence permit application form, and supporting documents such as proof of financial means, a valid travel insurance policy, and a valid employment contract or proof of studies," remarked another expat in Finland.