Introduction / Needs / Structure / Jobs / Money / Why?

 

 

Structure

 

Why "Inc."?

I chose the name Paradise, Inc., because if this venture ever actually happened, it would probably actually be as a company. Specifically, an incorporated company, because that type of business is only liable for its own assets - that is, nobody who's in it can get their pants sued off. An incorporated business is treated like an individual.

 

Getting the Money

Even though it's less money than you'd think an island would cost, $100,000 is a lot of money for an individual schlub just out of (or still in) college, like most of my friends are.

A company, however, can apply for business loans, on its own credit. In that scenario, individuals will not have to be able to buy a portion of the island outright and we can borrow some of it initially. We will have to make money somehow, of course, but that was the plan to begin with, anyway.

 

Getting the Island

It's easier to get an island in the South Pacific if you are a company and plan on hiring people in the region. This is simply because the governments that lease islands want to see some economic benefit, and that's perfectly understandable.

The reason I emphasize the South Pacific is because it has several small, stable nations (such as Vanutu, Tonga, French Polynesia, and the Mashall Islands) that have pre-existing methods of efficiently getting foreigners to pay for and develop their islands.

The Philippines are another option, but the legal setup is more complicated.

 

Personal Responsibility

In any company, the shareholders are the ones who hold power. In this case, a person would buy a share with their $50-100k. If every shareholder has an equal stake, all decisions are by majority - in orther words, it's a perfect little democracy. Since that's how the island would work anyway, there fact that the residents are employees for each other doesn't change a thing.

It does, though, bring a real behavioral and financial responsibility to the endeavor. If someone isn't capable of being a responsible, low-drama adult, they can essentially be fired. Both they and the company would have the legal protections for employers and companies, so if, God forbid, something had to go to court, there would be a legal way of going about it.