I think we have learned from the whole situation that Megaupload is going through, that offshore our out-of-country hosting is not a protective measure for the distribution of illegally distributed materials.
Remember too, if you want to host infringing materials, you'll have to avoid .com and other domain names that the US can seize. You're better off building a website on legal content. Just because the website is not in the US, if you are in the US they can go after you personally.