Ask HN: Limited Liability Company while operating in another country

This comment http://news.ycombinator.com/item?id=1585844 spawned some discussion about placing your company in a foreign country.

I'm currently living in Italy, opening a limited liability company here would cost us at least 10k euros as starting capital (2,5k euros at least at the beginning) and roughly 4000 euros as costs for incorporating.

Most important to me, every change of shares would require another 3000+ euros in cost.

So I won't be able to give my startup employees shares easily - we may have a contract written that says (at the end of 2 years or when we sell you'll have % of the company) but that sounds like a pain. Or doesn't it? Also, I couldn't be vesting shares if I done the written contract I said.

I would be still paying taxes in Italy so I would have no legal troubles in opening a foreign limited company.

I was thinking about an English LTD for the low cost and very low starting capital. Also with similar low costs there's Ireland but I've been told companies aren't favorable to receiving ireland companies invoices because of some VAT issues (don't really know about this to be honest). But I haven't found anything on the possibility of easy changing shares ownership.

So, I think it would be great for europe entrepreneurs if you could list these 3 things about your country limited liability companies: -incorporating cost -minimum starting capital -cost for passing shares