Why would you set up this hacker haven there if you can do the same thing in a cheap but paradisiac country like Thailand or the Philippines for the same cost?
As a dad, I am personally very happy to pay taxes in exchange for the overall infrastructure (schools, hospitals, roads, doctors, health insurance etc) and (edit) food :) (although I really dig thai food).
I will probably move half-time to such a place though, once my kids have left school :)
Sure, most Westerners can enter the Schengen zone for 90 days visa-free but after that you've either got to leave for another 90 (or is it 180?) or get sponsorship of some sort.
(Obviously this is a rather Amero-centric reply and doesn't apply to other EU citizens)
Visa is probably a favourable thing in comparison to Thailand / Philippines ...