Compare the costs of setting up and getting a business going in a first world country vs a third world one.
Third world will give you lower costs, less supervision and lower standards to meet in most areas. Once your business has grown and you need to go legitimate for further expansion, register everything in a first world country and continue on from there.
A few hundred thousand US$ and a beat up 1960/1970s airframe won't get you far in the EU but will probably get you going in Africa.