Here are my thoughts on Hong Kong: http://ustax.bz/want-to-form-a-hong-kong-company-read-this-first/
@StewartPatton - you recommend Belize over HK for "lifestyle businesses", can I say so?The good thing about HK is it's possible to open a PayPal account for a company. I think that would not be possible in Belize, right?
You're right--no PayPal in Belize. But,under your Belize company, you can have a US LLC with a US bank account hooked up to a PayPal account.
I guess a UK LLC would do the trick too, right?