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My Friends and I Bought an Island

tynan.com

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Re: My Friends and I Bought an Island

#41

Post by jacquesm »

nlh wrote: post #10
snitko wrote: post #4

I wonder if indeed it's completely out of any state's control or it's technically still in a state's jurisdiction. I wonder what would happen if someone bought an island and started hiring people and making money there and not paying any taxes. My guess is that government agents would suddenly become very interested in that piece of land and would pay a visit.

Almost none are truly independent or outside of a jurisdiction - I think he meant more metaphorically. But if you're interested in how the scenario you mentioned plays out, read up on some of the history of Sealand: http://en.wikipedia.org/wiki/Principality_of_Sealand

rdl is on here actually...

Re: My Friends and I Bought an Island

#42

Post by TamDenholm »

Is there any site or organisations that are around for the purpose of buying these kind of things? Kind of kickstarter but more larger payments for a percentage of a large purchase? I suppose kind of like a timeshare, but not a rip off?

I've come across 1 thing like this myself, which is a car club, you pay £10k and you get X days per year to drive the cars in their selection but you also own something like 5% of the company that owns the cars. I'd be very interested in other kind of group buying things like this.

Re: My Friends and I Bought an Island

#43

Post by jacquesm »

jw_ wrote: post #39
tynan wrote: post #25

Earlier quoted context omitted.

We're actually pretty close to a hospital. Five minutes to shore by boat and maybe 20 minutes to a hospital. Didn't see any scary spiders, but will keep an eye out next time I'm up there!

I suspect he meant "widowmakers" in the "bits of tree that can suddenly fall and kill you" sense, not spider sense: http://en.wikipedia.org/wiki/Widowmaker_(forestry)

Yep. And suddenly fall they do (gust of wind, guy playing around with a chainsaw at the base, random chance).

Re: My Friends and I Bought an Island

#46

Post by jessaustin »

hoopism wrote: post #27

How do you intend to prevent locals from "visiting" your island when you are away? Once someone realizes there's an awesome free island with lots of cool stuff to play with you might find it prone to vandalizing. I've had similar romantic notions about owning an island (we kayak a lot). But the reality is that every vacant island IS your island. There's plenty of islands I hope it works out for you but taxes go up, s…

Unfortunately, the first structure in a remote location is often the first structure the local pyro has an opportunity to torch with no consequences. After losing a camper trailer (not on an island, but in a remote location) to this phenomenon, we've investigated more durable/securable structures but have been reluctant to invest in anything more permanent than tents.

Re: My Friends and I Bought an Island

#47

Post by southpaw1227 »

What process are you using for finances? A budget meeting to agree on what to chip in for future years and for what those monies go to?

Did you all sign something already that talks about distribution plans if and when one of the group passes away?

Any plans to enforce "no trespassing" when none of the group is there?

Congrats, by the way!

Re: My Friends and I Bought an Island

#48

Post by herge »

tynan wrote: post #9
snitko wrote: post #4

I wonder if indeed it's completely out of any state's control or it's technically still in a state's jurisdiction. I wonder what would happen if someone bought an island and started hiring people and making money there and not paying any taxes. My guess is that government agents would suddenly become very interested in that piece of land and would pay a visit.

It's in Nova scotia, so the deed is registered there and we pay taxes there.

Be wary of the local property taxes. Any construction will count as increasing the value of the terrain, which the county will often assess over it's true value. Keep an eye on the yearly value increases and don't be afraid to contest the valuation, especially if you don't have running water, electricity, etc.

Re: My Friends and I Bought an Island

#49

Post by dubfan »

ianstallings wrote: post #16
snitko wrote: post #4

I wonder if indeed it's completely out of any state's control or it's technically still in a state's jurisdiction. I wonder what would happen if someone bought an island and started hiring people and making money there and not paying any taxes. My guess is that government agents would suddenly become very interested in that piece of land and would pay a visit.

It's controlled by Canada. There is no land on earth outside of the control of nation-states, except Antarctica, which is shared by major nations but has territorial claims by 7 nations. http://en.wikipedia.org/wiki/Territorial_claims_in_Antarctic...

> There is no land on earth outside of the control of nation-states, except Antarctica

Not quite. https://en.wikipedia.org/wiki/Bir_Tawil

Re: My Friends and I Bought an Island

#50

Post by yannk »

hoopism wrote: post #27

How do you intend to prevent locals from "visiting" your island when you are away? Once someone realizes there's an awesome free island with lots of cool stuff to play with you might find it prone to vandalizing. I've had similar romantic notions about owning an island (we kayak a lot). But the reality is that every vacant island IS your island. There's plenty of islands I hope it works out for you but taxes go up, s…

Why do you assume he'd want to prevent locals from visiting?
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