What Is Startup Chile?
Startup Chile is a world recognized program where more than 1,000 startups worldwide will be selected to came and operate from this country.
Selected startups will receive $40k USD equity-free seed capital, free offices and an important number of business contacts. The unique condition: Operate from Chile for 6 Months.
The country have a lot of direct benefits; But that’s a topic for another post.
A couple of months ago (Ag/08) i was done with the form application for the program using Guali (my startup) as project.
On September 23, after no sleep within a month i received an email congratulating me for being selected. AWESOME!.
I knew my chances where good; During 15 months we got into ramen profitability, a couple of Google certifications and we did it as a “succesfull story” within a Seed Program in Mexico…whatever, the surprise was great.
Why I’m Leaving Mexico?
Even before knowing about Startup Chile i was thinking about the excessive bureaucracy in my country and the possibility to “establish” the business elsewhere.
Between the limitations in Mexico there was a high tax rate (30%) because we where on internet business and almost all our expenses (80%) where no-deductible. True is i don’t care to pay 50% in taxes if that money is expended well. But it doesn’t. In Mexico politics are talkers and not doers.
Next week i will legally close my first (i just started when graduated from college as engineer) and successful Startup in Mexico and i will not pay Taxes in this country anymore.. i will establish the company in a country with a better administration (i don’t respect war a lot either).
I Will Continue Supporting My Country?
Hell Yeah!!; I’m just getting rid of the politics, Im planing to do donations by myself to support small-medium projects asking for a little of help to fly.
My mom is principal of a high school, they have only 8 computers for 400 students; If everything goes well I hope to donate a complete lab with 50 computers by mid 2012.
I suppose that Sometimes is better to cut off the middle man.
Pd. If you are in mexico and you have a startup please send me a tweet, maybe we can do a bigger donation together and be featured on Startup Chile blog :).
Hi,
Do you know what’s the average tax rate that a one-person online business has to pay in Mexico (e.g. ietu, state and federal tax, etc.)? You mention 30% in your post but I think it’s even higher than that.
Thanks.
Hello, thanks for your comment.
Tax rate should be around 32-38% considering Ietu, state and federal taxes.
Our core problem was that all our expenses where going to hosting, adwords, etc.. and none of those expenses where from companys in Mexico so we ended paying taxes twice.