Suggest me which country to incorporate in (IT Hosting)

[thatIT]

Can someone give me some recommendations as to where to incorporate my new company?

I'll provide IT cloud hosting services, the physical equipment of the company (servers) are located in a European country
Payments will be made using paypal, stripe and bitpay though there are alternative to stripe that support other jurisdictions.
I prefer to have a regular bank and not a fintech account in the same jurisdiction as the incorporation is.

I have the Ukrainian nationality.

Please tell me your suggestion and most importantly why it would be beneficiary for me or the company.

 

[Gediminas]

Hey,

I suppose your business will be effectively managed from Ukraine? This part could be a game stopper for you to get an account in the mainstream bank. The other thing is your business activities; it's labeled as high-risk, so it will bring you some troubles too.

My question is, why you are shutting the doors to an EMI? Just find that is business-oriented.

As regards company jurisdictions, many of your competitors choose BVI. The others - entity in the EU. Do you know where your clients will be coming from? Since you need Paypal and Stripe, I would look at European company formation.

 

[thatIT]

What is EMI?

The actual services take place in european country, nothing high-risk about offering hosting, the company does not host any illegal websites or shady customers.

I am currently considering Cyprus, law corporate tax but they have VAT though about 70% of the customers are outside the EU or have a VAT number, still it's one the things I think kills businesses (VAT) setup is cheap and quick and from what I read a bank account shouldn't be a problem. I'm just wondering if I should go with the nominee director service or not to at least (appear) the company to be locally managed. Most remaining European countries + banks won't accept me as a Ukrainian, it's darn difficult especially since bitcoins are an accepted payment for the services I provide even though they are converted to fiat currency by the payment processor and send to the bank account immediately.

 

[Gediminas]

What is EMI?

There is a good read about that:
https://offshorebankaccounts.com/blog/bank-account-or-emi-account