A company must make a good amount of money to do this. There is a overhead in structuring this: lawyers who do international inc., physical presence, banks, etc.

Larger companies will often do this by setting up a corporation in Ireland. They get a favorable tax rate, 12.5%, and a legit and stable place to park their European cash flows.

My resource for looking up tax havens is, http://www.lowtax.net/lowtax/html/jurhom.html