What are the visa & residency requirements in Serbia?

"In order to visit Serbia, 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. In order to obtain residency in Serbia, foreign nationals must submit an application to the Ministry of Interior. The application must include a valid passport, a passport-sized photograph, proof of sufficient funds to cover the duration of the stay, and a valid residence permit. Depending on the purpose of the stay, additional documents may be required. Once the application is approved, the foreign national will be issued a residence permit, which must be renewed every year," remarked another expat in Serbia.