After #panamapaper leak, people thinking hundred times before choosing Panama as an offshore jurisdiction.
For your situation I would defiantly go with a complete Cyprus company formation setup since you are able to get payment processing and bank account for this entity.Can you explain in details what is the best offshore company that you can incorporate in regards to online business and selling products online, getting payment processor and valid registered office address that I can put on website for my customers to see I'm a valid registered company?
For me even after 10 years, I won't trust them again for sure. They let my hopes down after what they did few years ago with the leak.In 1 or two years I would trust Panama again for company formation and only if they don't keep finding new documents and information from there until then forget about it. !!