What are the visa & residency requirements in Taiwan?

"In order to visit Taiwan, foreign nationals 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 other documents such as proof of financial means and a return ticket. Depending on the purpose of the visit, additional documents may be required. In order to obtain residency in Taiwan, foreign nationals must apply for an Alien Resident Certificate (ARC). The process of applying for an ARC involves submitting an application form, a valid passport, a passport-sized photograph, and other documents such as proof of financial means, a valid visa, and a health certificate. Depending on the purpose of the residency, additional documents may be required," mentioned another expat when asked about moving to Taiwan.