Isle Of Man Lures Big Business

The Isle of Man, located in the British Isles and internationally recognized for its pro-business environment announced today that several companies in the technology industry have established business in the Isle of Man. These companies include Lough House, Ludi Arena, IncaGold, NetTeller and Dimension Data.

NetTeller, a leading provider of Internet payment technology and a fully integrated suite of Internet solutions, has experienced substantial financial success since establishing operations on the Island. In April of 2004, NetTeller’s shares were admitted to trading on the Alternative Investment Market of the London Stock Exchange. As a result, 30 million pounds were generated for the company and 5 million pounds for selling shareholders.

"The Isle of Man has been instrumental in raising our profile throughout Europe," said Gordon Herman, chief executive officer of NetTeller. "The Island’s next generation technology infrastructure and low-operating costs have significantly contributed to our success and will allow us to quickly implement future growth plans in Asia and other international markets."

The Isle of Man offers companies in North America access to the European Union and the United Kingdom. The Island supports companies with a team of experts who advise on international tax, legal and banking issues. The accessibility of these officials and other legislators is one of the many reasons companies have chosen the Isle of Man as a launching point for operations throughout Europe. The Isle of Man’s political stability and vibrant business economy, as demonstrated with AAA ratings from Standard & Poor’s and Moody’s, make it a perfect location for North American companies looking to establish a European headquarters.

"We take great pride in the environment we have established here on the Isle of Man," said Tim Craine, director of the E-business division for the Isle of Man. "NetTeller is one of many companies who consistently benefit from our pro-business legislation and programs. We are thrilled by their success and look forward to hearing more positive news from them in the future."

The Isle of Man has a growing technology community comprised of Interactive Entertainment firms, software developers, Internet companies and technology providers. These organizations enjoy specific government programs designed to help insure all companies who establish operations on the Island, present and future, can lower the cost of doing business and in turn become more profitable.

Located just a few miles from the United Kingdom and situated in the center of the British Isles, the Isle of Man is an internally self-governing territory dependent of the Crown, however, separate from the United Kingdom. The Island is recognized worldwide for its pro-business climate and fully supports the growth of technology companies. The Isle of Man’s colorful heritage, diverse scenic beauty and its quality of life, enhanced by many annual cultural events, hotel, conference and leisure facilities provide the basis of a long-established tourist and film industry. With excellent educational, health and social amenities, the Isle of Man provides a unique quality of life, which is appreciated and treasured by all its residents.

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