What are the visa & residency requirements in Slovenia?

"In order to visit Slovenia, foreign nationals must obtain a visa from the Slovenian Embassy or Consulate in their home country. The visa application process requires applicants to submit a valid passport, a completed application form, a passport-sized photograph, and any other documents required by the Embassy or Consulate. In order to obtain residency in Slovenia, foreign nationals must apply for a residence permit. The application process requires applicants to submit a valid passport, a completed application form, a passport-sized photograph, proof of financial means, proof of health insurance, and any other documents required by the Slovenian authorities. Once the application is approved, the applicant will receive a residence permit valid for a period of up to five years," mentioned another expat when asked about moving to Slovenia.