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Most big adult companies have corps there to get MIDs
To get merchant accounts with Visa Europe you need a EU company and Cyprus and UK are the easiest to get (and also tax advantages), so that's why you always see Cyprus or UK addresses in the footer of many pay sites.
But not many adult companies are physically based there. It's just for the company structure.
By the way, Visa recently changed their rules to try to avoid having merchants open lots of companies just to get MIDs all with the same office address (usually the address of the incorporator), and now starts to demand their merchants to have real physical offices for each company in the country they are set up in.
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