That's a nice idea up until the point where Belize's police officers show up on your island because you've been breaking Belizian laws/not paying taxes/whatever

That's a nice idea up until the point where Belize's police officers show up on your island because you've been breaking Belizian laws/not paying taxes/whatever. I don't think Belize cares that a bunch of rich white kids are playing pretend on one of their islands. They'll do as they were.