What are the visa & residency requirements in Bolivia?

"In order to visit Bolivia, 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 proof of sufficient funds to cover the duration of the stay. Depending on the purpose of the visit, additional documents may be required. Foreign nationals who wish to stay in Bolivia for an extended period of time must apply for residency. The process of applying for residency involves submitting an application form, a valid passport, a passport-sized photograph, proof of sufficient funds to cover the duration of the stay, and a criminal background check. Depending on the purpose of the stay, additional documents may be required," mentioned another expat when asked about moving to Bolivia.