Can you buy a private island? Yes. In most cases, you will need a deposit of 10 percent of the purchase price to enter into an agreement of sale. You will also need to arrange for a jumbo mortgage or private financing to cover the remainder of the purchase amount.

There are tens of thousands of private islands in the world, ranging from a few dozen square feet to hundreds of square miles. Usually, they are governed by the laws of a nearby country but restricted to use by the owner alone.

The entire eastern seaboard of North America is dotted with private islands, from Nova Scotia in the north all the way down to the Florida Keys.