JAKARTA – Richard Branson has his own private island, so does Johnny Depp. But for the vast majority of dreamers, owning a little slice of heaven is a dream far beyond their reach.

But thanks to the Indonesian government, dreamers are one step closer to making this reality. Earlier this week, Luhut Pandjaitan, a maritime affairs minister, outlined a plan that will allow foreign investors to lease one of Indonesia’s islands and “give it any name they want, as long as they report to us,” reports Quartz. Indonesia, he stressed, will retain ownership of the islands.

“If the island is for tourists, it’s fine, as long as there are plans and regulations,” he said.

Indonesia, an archipelago nation, is estimated to have over 18,300 islands, according to a 2002 survey by the country’s aeronautics and space institute. As of 2012, it had registered nearly 13,500 islands with the United Nations, and by August, authorities estimate that this number will increase to 14,752. However, this still leaves thousands of islands without a name.

Pandjaitan confirmed there’ve already been a few bitesl Japanese investors have signed on to manage the island of Morotai, part of eastern Indonesia’s Maluku chain. Investors plan on making the island a destination for Japanese seniors. Pandjaitan also noted that Singapore is interested in investing in an island, too.

So tell us, if you could name your very own island, what name would you pick?