Originally Posted by jalami

If you're using the corporation for getting merchant accounts, and won't be banking in the EU, and paying tax in Canada, I'd recommend setting up a UK corporation. It's one of the cheapest, easiest, fastest no-hassle places to set up a limited corporation, and there's very little in reporting requirements if you're not actually operating in the UK.

However one of the things that are very important to realize is that most processors such as ccbill-eu won't take your corporation without an actual European director on the corp. Some places offer nominee directors, but it's doubtful if you can get them to sign merchant agreements.