Looking to move abroad without breaking the bank? Here's why you need to consider Malta, an island nation where you can live comfortably for under $36,000 a year.

Seemingly remote yet easily accessible to other points in Europe, sunny Malta offers paths to citizenship and residency for retirees.

Malta's residency program offers the ability to live in Malta indefinitely, as well as monthslong access to most of Europe without a visa, according to Henley & Partners.