The main defining features of a Part 103 ultralight are empty weight (< 254 lbs, including battery but not including up to 5 gallons of fuel, and with additional credits for parachutes and floats), minimum flight speed (stall speed for a fixed wing aircraft) of <= 24 kts or calculated equivalent (see AC 103-7), and maximum horizontal flight speed of 55 kts (with electronic or other artificial restriction of speed being acceptable).
Many of the "jetpacks" and other ultralight VTOL ideas being explored right now easily fit within Part 103, so in the US these certainly can fly, at least for very limited recreational usage.