I absolutely agree with CBP. We work for Spanish real estate clients whose market is in the UK (britons are their target) and we have a hard time trying to get their pages indexed under google.co.uk. Also, you have to take into account that there are different laws that affect how you can get personal information from your visitors and what you can do with it. The law that applies is the one in which the database is hosted, not the country where you run your business in.

Fernando.