Generally (I.e. not only for LCCs, but for traditional airlines as well) the country of registration is much more relevant than the business model: in some countries oversight is lax if not inexistent, corruption may be rife. The economic situation may also mean parts are hard to come buy, so aircraft will fly with more non-functional systems than normally allowed, or systems fixed with various quantities of duct tape. Planes are also usually older, sometimes a lot older.
One can check the EU airline black list for reference. Those airlines are banned from flying in the EU (totally or partially), which is the sign of big problems in their maintenance or oversight processes. You’ll notice that some countries are represented a lot on that list.
In countries with a strong oversight, LCCs are subject to the same procedures and controls as traditional ones. Cutting corners in services offered is one thing. Cutting corners on safety, with the risk of having their operating certificate suspended or revoked, is an altogether different story.