What are the visa & residency requirements in Austria?

"In order to visit Austria for any length of time, foreign citizens must obtain a visa from the Austrian Embassy or Austrian Consulate in their home country prior to the trip. The visa application form needs to be completed and submitted along with the applicant’s passport and documents such as authentication of purpose of the journey and proof of sufficient funds. Depending on the purpose of the journey, additional documents may be required. To be eligible for residency in Austria, foreign citizens must meet certain requirements and follow a certain set of steps. Depending on their purpose for moving to Austria, individuals may need to complete a residence permit application form, submit proof of international health insurance coverage, provide proof of sufficient financial resources and demonstrate their language proficiency in German. Additionally, they may need to provide different documents and fulfill certain other criteria to be eligible for the Austrian residence permit," remarked another expat in Austria.