Tunisia (My country) may be a good place for you. When re-searching on how to start my own company, I found out that non-residents can easily form a company over the Internet and submit all papers (even without being here). Taxes are 10% but if you sign before 2011, you'll pay no taxes for 10 years.

Here's the website in question: http://www.tunisianindustry.nat.tn/en/home.asp It's in English and has lot of useful information. There is a section for online services and they'll answer your email within 24/48 hours. The cost is $100 or so, to form the company.

Life in Tunisia is good but not that cheap. You'll also miss your reliable Internet connection (though Water/Electricity are a lot reliable). The weather and food are good. Public services sucks, so you'll need your own car (for example), private medical care, ...