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Isle of Man confirmed as one of the World's most pre-eminent locations for E-Business 21 March 2006

    The Isle of Man Government’s Treasury has today announced the findings of the latest Charteris report entitled “e-Business Strategy – five years on”., The first review took place in 1999, and finds that since then, “the Isle of Man has been very successful in maintaining a strong and steady marketing position on e-business compared with its jurisdictional competitors”.

    The Charteris report describes how and why the Isle of Man has both maintained and improved its competitiveness and currently stands of one of the world’s leading jurisdictions for e-business. The report states “Amongst those who are aware of the Isle of Man’s positioning, it is seen as a good example of how to get things right, and the standard to be achieved – a number of official publications by competitor jurisdictions explicitly say so”.

    Recent developments identified as having added to the Island’s increased attractiveness, include:

    • The 0% tax regime coupled with a cap on personal income tax at a maximum level of £100,000 per annum.
    • Increased confidence in the Island’s ICT sector
    • Increased off Island competition as a result of the licensing of Cable & Wireless which has led to lower bandwidth costs
    • The provision of new world class hosting facilities in the form of Manx Telecom’s new Douglas North facility
    • Evidence of clustering in the online gambling sector and the beginnings of “stickiness” of operators in the sector
    • A number of “excellent sales wins”, including NETeller, Microgaming, Poker Stars and Inca Gold
    • Clear signs of significant improvement in collaboration between business and Government on e-business and economic development issues

    Tim Craine, Isle of Man Government Director of E-Business and Space Commerce said:

    “The Charteris Report is a clear endorsement of the e-business strategy pursued by Government over the last 5 years. The report itself highlights how we have developed the Island’s proposition, increased our lead over our competitors and placed ourselves in an ideal position to take our share of new and emerging opportunities in the area of converging technologies. However, we are not complacent and the report also highlights how and where we can make further improvements. Over the coming months we will be working with colleagues in both Government and the private sector to address these recommendations .”

    Allan Bell, Isle of Man Government Treasury Minister said:

    “The Isle of Man has established itself as a thriving economy with some 21 years of unbroken economic growth. The growth of e-business is becoming increasingly important to our economy. The Charteris report enables us access how we can develop the Island’s position even further.”

    21st March 2006

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