I would rather say it depends on what your business activity is like. For instant if you are looking to safe tax but as well want to protect your business from any legal claims but don't want to give up the possibilities of professional and cheap online payment processing a Cyprus company may be better than a Seychelles company. If the only purpose of the company is to act Holding shares or other properties then the Seychelles or a other offshore jurisdiction (that don't has any TIEA's or DTA's in place) may be good as well.
What I mean is, you will need to look at your situation and goals and then decide where to incorporate and how to structure your company and business.