What are the visa & residency requirements in Panama City?

"In order to visit Panama City, 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 Panama City, Panama, applicants must submit an application form, a valid passport, a passport-sized photograph, a police record, a medical certificate, and a fee. Depending on the type of residency, additional documents may be required. Once the application is approved, the applicant will receive a residency card, which must be renewed every two years," remarked another expat in Panama City, Panama.