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If you are thinking about moving to Panama, you are going to be barraged with information, advice and travel guides. It’s important to absorb as much advice as possible to make an informed decision about what’s best for your budget and your lifestyle.

You might find all the information daunting at first. It’s a big decision. But here are five key facts about moving to Panama to keep in mind:

1. Panama City is ranked as one of the least expensive cities in the world to live, according to the latest Worldwide Cost of Living Survey conducted by the

Economist Intelligence Unit. Panama ranked as the 8th least expensive major city in the world, the only city in the Americas in the top 10. Panama City made the list by offering a “cheap cost of living in a more stable environment,” the study concluded.

2. Panama’s infrastructure is one of the best in the region. Sure, Panama City may seem like a bustling, crazy environment. But Panama is familiar with foreign buyers and there is a well-established banking and expat network. And it’s easy to get around, especially since the opening of the first phase of the Metro, the first metro in Latin America.

3. Any person over 18 years of age can qualify for a Pensionado, or retirement visa, in Panama. The only main requirement is that you can prove a lifetime monthly pension or a pension from a government entity, social security, Armed Forces, or a private company. For retirees, this is a great plan. Here are some of the benefits:

• 30 percent reduction on bus, boat and train fares
• 25 percent discount on airline tickets
• 50 percent reduction on hotels from Monday to Thursday
• 25 percent reduction on hotels from Friday to Sunday
• 25 percent reduction in sit-down restaurants
• 15 percent reduction in fast food restaurants

4. Upon your arrival in Panama you will qualify for 30 days of free insurance, covering up to $7,000 in medical expenses. All you need to do is show your passport when you arrive at the hospital and you will be covered for free. It’s one less thing to worry about. Panama City has excellent health care facilities, including a world class, John Hopkins-affiliated hospital right here in Punta Pacifica.

5. If you are a newcomer to Panama and want to get advice and meet new people, there are several expat groups and associations that will help you with your transition. You won’t be alone. We can help.

Duncan McGowan is president of Punta Pacifica Realty, a Panama real estate agency focused on Punta Pacifica, the exclusive neighborhood of 18 towers perched on the edge of the Pacific Ocean.