As raptorthang said, a MIM (Made in Mexico) Strat (or Tele) would be a good way to go. There are many very well made guitars these days for $2-300 American (not sure what the exchange rate is.). Epiphone (owned by Gibson) makes some very nice low priced guitars. What kind of music will you be playing? This may well determine what style guitar would be best for you, hollowbody vs. solidbody, single coil vs. humbuckers or P90s, etc. If at all possible, go to a music store and try out all the guitars in your price range. You'll know the right one for you when you play it. Also, don't discount the importance of the amp. A lot of players recommend buying a better amp than guitar. Here again, it all depends on what features you want: modeling, effects etc. A two channel amp would generally be most desirable, one clean and one dirty (distorted or crunchy) channel. An inexpensive solid state amp makes a good starter, better bang for the buck compared to tube amps.
If you can't get to a music store to try the guitars out, there are a lot of good deals on Ebay and Craigslist for used instruments. You can usually get better instruments in your price range; the only drawback is that you can't try them out before you buy.
Good luck and have fun in your search!