Offering youth contracts to foreign players

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Hey guys. Sorry if this is silly, but I am new to the FM series and I have an issue. I am managing in the Faroe Islands so I'm working with a very small budget (professional team). Anyways, I found this new gem from Honduras who looks like a great catch. He is on a youth contract in Honduras but when I offer him a contract he is willing to sign but for about $2000/week (more than I can afford). Also it says that I will have to pay about $500,000 to his club in compensation.

i have three questions. First, can I offer the player (foreigner, non EU) a youth contract so that I can bring him into my team and play him for a while without having to break my wage budget? (I'm not getting that option in the contract screen). 2) can I do anything to avoid paying the compensation? Half a million is too much money for a club in the Faroe Islands :). 3) can you convince players to transfer from another club's youth academy to yours without having to offer them a professional contract?

I appreciate any help with this. Thanks
 
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