What are the visa & residency requirements in Lugano?

"In order to visit Lugano, a visitor must obtain a Schengen visa from the Swiss Embassy or Consulate in their home country. The process of applying for a visa involves submitting a valid passport, a completed application form, a passport-sized photograph, proof of travel insurance, and proof of sufficient funds. In order to obtain residency in Lugano, Switzerland, an individual must apply for a residence permit from the cantonal migration office. The process of applying for residency involves submitting a valid passport, a completed application form, a passport-sized photograph, proof of financial means, proof of health insurance, and proof of accommodation," mentioned another expat when asked about moving to Lugano, Switzerland.