Where is the cheapest please to setup an offshore corporation at. We are going to do it to setup a bank account. Then preferably find some offshore merchant processing solutions. Where would be the best location to do this at?

Try BVI or Cyprus if you live in Europe.

I don't think it is a question of where is the cheapest BUT which country matches my industry the best? It is more expensive to have to change jurisdictions in the future if you don't get it right from the start.