Among the ones you mentioned, Singapore. If you're happy to relocate / create substance (director, offices, employees, board meetings) in another country so th

Among the ones you mentioned, Singapore. If you're happy to relocate / create substance (director, offices, employees, board meetings) in another country so that the tax man in your countries of residence won't pursue you, then I'd go with Dubai or some zero tax Caribbean island if you don't care about Anti Money Laundering regulations (aka you don't care about investing the profits in European / American banks). Malta at 5% if you care about accessing European markets (even better if you have residence somewhere with little or no dividend tax like Portugal with NHR or Cyprus at 2.5% extra). Company formation / bureaucracy is generally not a big concern, just avoid Germany, Italy, Spain, France (no reason to pick them to do business anyway) and get an accountant to deal with the pain.