What are the visa & residency requirements in Bocas del Toro?

"In order to visit Bocas del Toro, visitors must obtain a tourist visa from the Panamanian Embassy or Consulate in their home country. The process of applying for a tourist visa involves submitting a valid passport, a completed application form, a passport-sized photograph, and a fee. In order to obtain residency in Bocas del Toro, Panama, applicants must submit a completed application form, a valid passport, a passport-sized photograph, a police record, a medical certificate, and a fee. Additionally, applicants must provide proof of financial solvency, such as a bank statement or a letter from an employer. Once the application is approved, applicants must attend an interview at the Immigration Office in Panama City. After the interview, applicants will receive a residency card, which must be renewed every two years," remarked another expat who made the move to Bocas del Toro, Panama.