What are the visa & residency requirements in Peru?

"In order to visit Peru, foreign nationals must obtain a visa prior to their arrival. The process of applying for a visa involves submitting an application form, a valid passport, a passport-sized photograph, and the applicable visa fee. Depending on the purpose of the visit, additional documents may be required. In order to obtain residency in Peru, foreign nationals must submit an application form, a valid passport, a passport-sized photograph, and the applicable fee. They must also provide proof of sufficient financial resources, a criminal background check, and a medical certificate. Depending on the type of residency, additional documents may be required. Once the application is approved, the foreign national will receive a residency card, which must be renewed every two years," mentioned another expat when asked about moving to Peru.