Indeed, I total agree with Sols and Koohl.
Forming a tax resident company while the investor/majority shareholder resides abroad needs careful planning from both Cyprus level and the country of residence of the shareholder.
PoEM on Cyprus level is satisfied (as Sols mentioned) by using local directors but more in depth analysis of the activities and scale of business needs to be made to tackle aspects of substance, CFC rules, Double tax treaties and ATED.
Happy to PM you if you need assistance.