What are the visa & residency requirements in Riga?

"In order to visit Riga, visitors must obtain a visa from the Latvian Embassy or Consulate in their home country. The visa application process typically requires applicants to submit a valid passport, a completed application form, a passport-sized photograph, and proof of sufficient funds to cover the duration of the stay. Depending on the purpose of the visit, additional documents may be required. In order to obtain residency in Riga, Latvia, applicants must submit an application to the Office of Citizenship and Migration Affairs. The application must include a valid passport, a completed application form, a passport-sized photograph, proof of sufficient funds to cover the duration of the stay, and proof of health insurance. Depending on the purpose of the residency, additional documents may be required. Once the application is approved, the applicant will receive a residence permit," mentioned another expat when asked about moving to Riga, Latvia.