Cyprus is pretty good for creating a company. They have low taxes and a nice industry of accounting firms revolving around this which makes things pretty easy. You can create a company without setting foot in Cyprus. Doing the paperwork for a company in Greece is a nightmare. Plus tax is 28% and constantly changes always upwards.

You are also obliged to pay for state health insurance in order to own a company which also changes constantly and upwards all the time. I you fail to pay your own health insurance you can go to jail. You cannot stop the health insurance. You have to close the company. If you owe health insurance payments and cannot pay them you cannot close the company and the health insurance debt keeps mounting up.

What have you heard? It's very very much greater. In fact it's one of the most popular "off shore" tax locations in Europe too.