When it comes to secluded getaways, private islands top the list for many. After all, they are the ultimate luxury and promise privacy and seclusion that can’t be found on a regular vacation. And while most people assume that buying an island would be incredibly expensive, the surprising truth is that these tropical paradises aren’t as pricey as they might first seem.
Whether you want to build a multigenerational family compound, create a eco-resort, or simply enjoy a little piece of paradise on your own, these luxurious islands are the perfect spot. Billionaires and celebs have turned their private islands into ultra-luxury resorts, and even small ones are ideal for those looking to get away from it all. But before you go out and buy your own island, there are a few things to know about them.
For starters, you’ll need to decide how you plan to use your private island. This will impact the cost, as well as whether you need to set up power and water systems, roads and communications infrastructure. The cost will also depend on how accessible the island is, as some require a boat ride of several hours. Unless you’re willing to have it manned by your own staff, the services of an experienced island management company will be essential for maintaining the island in the best possible condition.
One of the biggest challenges is maintaining the privacy that comes with owning an island. Unless you want to be visited by paparazzi and the media, a private island will need to have the proper security measures in place. There are companies that specialize in this, and they can help with everything from security systems to hiring local staff. They can even help with zoning issues to ensure that your island isn’t spoiled by too much noise, traffic or pollution.
Aside from being a challenge, owning an island comes with its own unique set of risks. If you’re going to spend your hard-earned money on something, you want to make sure that it’s worth the investment. One of the biggest challenges is that, unless you’re a celebrity with the means to protect your privacy, you will likely be surrounded by people who are just as interested in buying an island as you are. This can be a major distraction and cause for stress if you’re not careful.
Can I buy an island and turn it into my own country?
As far as we know, it’s not possible to purchase an island and convert it into a country. If the island was discovered before your ownership, then it is legally part of the country of origin of its discoverer, and you would need to comply with that nation’s laws. However, if you find an undiscovered island and inhabit it then you may be able to claim it as your own. Just remember that “might makes right,” and Uncle Sam or Big Brother might come knocking to ask why you’re not paying taxes on your new independent state.