Let's say a British guy purchases an island in the middle of the Pacific. Does that island become part of Great Britain, or remain whatever it was before, or how does that work? Any tax benefits to each?
2007-09-07 13:46:24 · 3 answers · asked by michael_kueker 1 in Business & Finance ➔ Renting & Real Estate
The nationality of the land does not change. You can't buy yourself a country.
2007-09-07 14:36:18 · answer #1 · answered by Landlord 7 · 0⤊ 0⤋
Given that nearly all islands are claimed by some country ,
I'm guessing that the seller will tell you who the sovereign controller is .
Then you will be a British citizen that owns land , in say Indonesia .
And FYI - given the islands that are going under water from the rising seas ,
Caveat Emptor , you may soon own an island beneath the sea !
Check for Sponge Bob & Patrick .
>
2007-09-07 20:54:39 · answer #2 · answered by kate 7 · 0⤊ 0⤋
Interesting thought. Most likely the Island is claimed by a country already, so it is part of whatever country claimed it. If not, i guess it is pretty much up to you, you might be able to have your own country.
2007-09-07 23:52:21 · answer #3 · answered by Monika Wilson 4 · 0⤊ 0⤋