Wola, Cyprus for onshore and legit business activity where main markets are Europe. Offshore (all other listed jurisdictions) for business that is a little shady and where repuation don't plays any role.
What if the nominee director already has a PayPal account will this still work then? Because it seems the PayPal is the only issue with all the question asked by OP!
This explains it very well, I was wondering about the same and didn't found any useful information that could confirm what a Memorandum and Articles are.