I have learned very much on this forum, really great finding, so I will look into Seychelles Holding with Cyprus trading company. Seems to me so far to be a perfect solution for my Online business.
Cyprus is considered as low tax jurisdiction, even if they have the option to incorporate non resident / offshore it is not really a offshore jurisdiction.
I really like Hong Kong, you get all the benefits of tax haven without the tax haven status. But I admit the disadvantages as higher price and the need to come to Hong Kong (are there any sunny beaches?) to open bank account may bee too significant. Recently HK launched electronic incorporation so we'll see if that will make things easier.