My question is not whether they can afford it or not, but whether they indeed would do it or not. If not, then you can consider this island a separate country, which is pretty cool. If, on the other hand, it's still Canada's jurisdiction, then it doesn't make any sense owning such an island.
We have and plan on complying with all laws. Taxes are very low, almost negligible when distributed amongst the 10 owners.
The point isn't to escape jurisdiction, just to have a cool private summer came / work retreat place.