No logging.
The thing about logging is that it's not possible for a VPN provider to prove they don't keep logs, nor can they prove they will never start keeping logs in the future if ordered by a court.
Never depend on a third party not keeping logs. Assume they are logging everything and if that's a problem then protect yourself via other means (connect to the VPN service through Tor, etc).
That's true. US does not have data retention laws but gov can get logs whenever they want.
So basically i don't trust US and European countries.
Here is a list of countries that doesn't have data retention laws.
Argentina - No data retention law
Brazil - No data retention law
Bulgaria - Data retention law not applicable to VPN providers
Cyprus - Data retention law declared unconstitutional (?)
Czech Republic - No data retention law (declared unconstitutional)
Hong Kong - No data retention law (?)
Iceland - No data retention period specified (?); good privacy laws
Japan - No data retention law
Luxemburg - Data retention law not applicable to VPN providers
Netherlands - Data retention law not applicable to VPN providers
Panama - No data retention law
Romania - Data retention law declared unconstitutional
Serbia - Data retention law not applicable to VPN providers (?)
Sweden - Data retention law going into effect in May 2012, but (presumably) not applicable to VPNs
Taiwan - No data retention law (?) + seemingly good privacy laws
Ukraine - No data retention law