(What If?) ccTLD Delegation Question

Call it Monday Boredom, if you will, but a funny DNS question just popped into my head: if I were to, say, win the lotto and buy my own Island (which, of course, would technically be its own country), would I be able to receive a ccTLD for said island nation? Kind of like .joejohnsonisland or .jji? If so, would the DNS have to be actually contained inside of said island? I think not, as it was mentioned earlier that .iq was run from Texas, but it's always good to ask. Joe Johnson joe@sendjoeanemail.com