Interesting!
As long as your token is a utility you are fine.
If the tokens are actually securities (like the DAO according to the SEC), then you need to go through a similar process as IPO.
Many companies sell their tokens from Gibraltar and Switzerland.
another question does the incorporation country of the ICO affects your decision to invest?
I would think they are other countries which ICO companies can incorporate their entity, what are the factors you would consider?