There's nothing you really have to worry about legal-wise when setting up a website except for trademark infringement when picking out your domain name and copyright infringement for the content on your website.
To start, you would need a domain name for your website which is usually around 8 to 10 bucks a year. I'd recommend GoDaddy.com or NameCheap.com, I register from both registrars frequently.
Along with that, you'll need webhosting. If you're just starting out, a Shared plan would be ideal for you. You can get a basic shared plan from $1 to $8 at the most. Some of the more well known hosts are Site5.com, HostGator.com, LiquidWeb.com, etc. I'd do a Google search or check out WebHostingTalk.com for a web host that best suits you.
Regards,
Thien Hoang
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