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Cyprus or Belize offshore company what is best?

Well, there are several options available, for instant the cheapest and fastest is a Seychelles company where profits are "tax free" another option is to register a Cyprus company offshore so it as well has to 0% Tax on net profits. All this may apply for Belize and various other real offshore jurisdictions as well.
 
You simply need to register the company in Cyprus with foreign director(s) and/or shareholder(s) or make use of foreign nominees not Cypriot. Actually it isn't difficult to get the status as offshore company in Cyprus. Bear in mind that it is not possible to register the company for VAT if the status is offshore.