A closer look

You do not actually need land to be considered a legitimate global entity if you have enough historical clout. The Sovereign Military Order of Malta is recognized by the UN as a sovereign subject, yet they hold no physical territory beyond a couple of buildings in Rome. Despite this, they stubbornly issue their own currency, postage stamps, and one of the rarest passports in the world to their top officials, proving fake it until you make it works in geopolitics.