Macworld's sister site PC Advisor has just broken this story:

One of Sweden’s largest file-sharing sites, The Pirate Bay, is planning to buy its own nation in an attempt to bypass international copyright laws.

The site has set up a campaign to raise money to buy The Principality of Sealand, which is located just off the east coast of England and claims to be outside the jurisdiction of any other country. Earlier this year, Sealand’s ‘royal family’ announced it was seeking inward investment following a devastating fire last summer. Sealand, which has been occupied since the 1960s, is a former British naval platform which now has high-speed internet access and reportedly has no copyright laws.

The Pirate Bay, which enables people to download copyright content files, is planning to buy the 'nation' and then alter its laws to suit its needs. Anyone that contributes funds will be offered citizenship in the Principality, which has its own constitution and national anthem. The file-sharing firm said that if it fails to get enough money to buy the micronation, it could turn its attention to another small island.