What are the visa & residency requirements in Managua?

"In order to visit Managua, visitors 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 a fee. Depending on the type of visa, additional documents may be required. In order to obtain residency in Managua, Nicaragua, applicants must submit an application form, a valid passport, a passport-sized photograph, and a fee. Additionally, applicants must provide proof of employment, proof of financial stability, and a criminal background check. Once the application is approved, applicants must attend an interview with the immigration office. After the interview, applicants will receive a residency card, which must be renewed every two years," said another expat in Managua, Nicaragua.