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I decided to ask forum members if they know about this host...
I have found out that netshop-isp.com.cy has servers in Europe and this what I need.
The only thing I am worrying about is the reliability on this hosting provider.

Will it be worth using their hosting solutions? Do they offer any discounts?
Have a look at plans from libertyvps.net and finaltek.com.
Great hosts. Whenever you run into a problem with your website, the technical support team is very knowledgeable and promptly helps you to resolve any problems that your website experienced.
I like netshop isp hosting. Very kind, easy to work with, and exceptional service and value. The perfect host! Try them for free with: https://netshop-isp.com.cy/free-trial-vps/
In an age where there is so much competition, there is one sure way to retain your customers and get new ones – keep them happy so they spread the word, and NetShop-isp.com.cy delivers on every front!
The couple of times I had problems, the support staff have was right up there for me to respond, matter resovled within minutes, no fuss. Uptime is unprecedented.
ASVhost.com and KVChosting.net plans are full of useful resources.
Mainly their customer service and support is quite excellent. The support staff take time to understand the issues and never talk down to you if you are finding it difficult to sort out the problem. Having said that - I haven't actually had that many problems!
Servers from hostingsource.com and brixly.uk are stable and reliable enough to sign up with.
Everything is simple, straightforward, and works flawlessly right out of the box. Uptime is great. Speed is no issue.
You can try netshop isp hosting for free: https://netshop-isp.com.cy/free-trial-vps/
QHoster.com and hostsailor.com are worth trying.
No problems at all. I feel confident that my sites are up and running at all times.