I found this aweful description / memorandum from one of the larges tax firms in the World http://www2.deloitte.com/content/dam/Deloitte/cy/Documents/Accountancy/CY_Accountancy_MemorandumNicEnglish_Noexp.pdf describing some great points you need to take into consideration when forming a Cyprus company for your business needs. It's not just one of these guides, it's really a MUST READ!