From YahooNews: 

World’s smallest country up for sale

LONDON (Reuters) - For sale: the world’s smallest country with its own flag, stamps, currency and passports.

Apply to Prince Michael of Sealand if you want to run your own storm-tossed nation — even if it is just a wartime fort perched on two concrete towers in the North Sea.

Built in World War Two as an anti-aircraft base against German bombers, the derelict platform was taken over 40 years ago by retired army major Paddy Roy Bates who went to live there with his family.

He declared the platform, perched seven miles off the east coast of England just outside Britain’s territorial waters, to be the principality of Sealand.

The self-styled Prince Roy adopted a flag, chose a national anthem and minted silver and gold coins as its currency.

(more here)