Topic: Offshore hosting


I was wondering if anyone could offer some insight on offshore hosting.  I want to start a rails website (not pr0n) and wish to keep it offshore (e.g. Bahamas, Panama, where else could one go?).  It wouldn't be a high traffic website (at least not initially). 

Are there any resources out there that provide details as to how reliable the hosts are?
Are there ones tailored towards rails + postgres/mysql websites?

As a side note, the site isn't selling anything illegal or infringe on any copyrights.

If anyone has any experience on these matters, I would love to pick at your brain.