Sarkari Yojana
Capital Investment Subsidy Scheme for Goan Diaspora
About Capital Investment Subsidy Scheme for Goan Diaspora
Among the “Information Technology Policy Schemes” of the Department of Information Technology, Government of Goa, the “Capital Investment Subsidy Scheme for Goan Diaspora” was introduced in 2018. Under it, every New Unit that develops office space can receive a capital investment subsidy of up to 20% on capital investments made during the Scheme’s tenure. The scheme belongs to Goa’s IT Policy, which aims to make Goa an aspirational geographical and human resource base for IT Units and a preferred place for them to invest and expand.
Scheme Overview
State Government
Business Entity
Scheme Details
Eligibility Requirements
To qualify for Capital Investment Subsidy Scheme for Goan Diaspora, applicants must satisfy the following conditions:
Applicants may be either a New or an…
Applicants may be either a New or an Existing Unit.
Operations must be based in Goa
Operations must be based in Goa.
The applicant must be one of these entity…
The applicant must be one of these entity types:
A Proprietorship Firm
A Private Limited Company registered under the Companies Act, 2013 (or equivalent)
A Public Limited Company registered under the Companies Act, 2013 (or equivalent)
A Registered Partnership Firm registered under the Indian Partnership Act, 1932 (or equivalent)
A Limited Liability Partnership registered under the Limited Liability Partnership Act, 2008 (or equivalent)
The bank accounts held by the unit and/or…
The bank accounts held by the unit and/or its partner(s)/director(s) must be Aadhaar-linked.
An IT company can claim the subsidy for…
An IT company can claim the subsidy for an office space only after operating from that space for over one year.
The company/ firm has to be registered within…
The company/ firm has to be registered within Goa.
The CEO / Head or the Majority Stakeholder(s)…
The CEO / Head or the Majority Stakeholder(s) of the company/ firm must be a member of the Goan Diaspora.
At least 15 employees must be hired, with…
At least 15 employees must be hired, with no less than 60% of them being of Goan Origin.
Employees must remain on the company's rolls for…
Employees must remain on the company's rolls for at least one year. NOTE: At the close of each Fiscal Year, units are assessed to confirm they still qualify to keep receiving the subsidy.
Benefits Provided
Capital Investment Subsidy Scheme for Goan Diaspora provides the following benefits to eligible applicants:
Capital investments made while the Scheme is running…
Capital investments made while the Scheme is running attract a subsidy of up to 20%.
Establishing Mega Business Units brings a further 10%…
Establishing Mega Business Units brings a further 10% subsidy on capital investments.
Existing Units qualifying as Mega Units can also…
Existing Units qualifying as Mega Units can also claim up to 20% of capital investment made in the last 3 years before this policy was notified.
Setting up office spaces for industries the Government…
Setting up office spaces for industries the Government treats as key focus areas earns an extra 10% subsidy on capital investments.
Units owned by the Goan Diaspora receive a…
Units owned by the Goan Diaspora receive a further 10% investment subsidy on capital investments.
Payout of incentives is pro-rata, linked to the…
Payout of incentives is pro-rata, linked to the share of Employees of Goan origin or Goan Graduates:
Up to 30% of employees on the company's rolls: 50%
Between 30% and 60% of employees on the company's rolls: 75%
Over 60% of employees on the company's rolls: 100%
Units that expand can claim the investment subsidy…
Units that expand can claim the investment subsidy if they meet the Expansion Unit criteria; new staff hired for the expansion must have been on the rolls for no less than one year before the application date.
Maximum rebate limits under this provision
Maximum rebate limits under this provision:
Smaller Business Units: ₹ 10,00,000
Other Business Units: ₹ 50,00,000
Mega Business Units: ₹ 1,00,00,000
NOTE 1: Benefits are tied to budgetary allocation; if the allocation runs out and benefits cease, Promissory Estoppel will not apply.
NOTE 2: Only spending incurred while the policy is operational is taken into account.
NOTE 3: Any investment by the applicant in land and building is excluded from capital investments.
Documents Required
Applicants should keep the following documents ready before starting the application:
A copy of the company's Certificate of Incorporation
A copy of the company's Certificate of Incorporation
A copy of the registration certificate/document of the…
A copy of the registration certificate/document of the new unit
Copies of the unit's PAN, Aadhaar and GST…
Copies of the unit's PAN, Aadhaar and GST TIN
Its Memorandum and Articles of Association
Its Memorandum and Articles of Association
The first bill raised (copy) indicating the operations…
The first bill raised (copy) indicating the operations start date, or any other relevant proof
The developer's/local authority's occupancy certificate for the office…
The developer's/local authority's occupancy certificate for the office space
A 3-year business plan/detailed project report (DPR) showing…
A 3-year business plan/detailed project report (DPR) showing expected investment and employment targets
A staff list with the proportion of employees…
A staff list with the proportion of employees of Goan origin
Contractor agreements, purchase orders, and further documents backing…
Contractor agreements, purchase orders, and further documents backing up the capital investment
Payment receipts or other proof of payment for…
Payment receipts or other proof of payment for the above
An auditor's or Chartered Accountant's certified copy confirming…
An auditor's or Chartered Accountant's certified copy confirming the investments
The Udyog Aadhaar
The Udyog Aadhaar.
How to Apply
Online Application
Applicants can apply for Capital Investment Subsidy Scheme for Goan Diaspora through the online application process outlined below.
Head to Goa Online's Official Web Portal and…
Head to Goa Online's Official Web Portal and click the "Register" link in the top right corner.
Use the OTP to verify your Email ID…
Use the OTP to verify your Email ID and Mobile Number, after which you land on the Registration Page.
Fill every compulsory field in the registration form,…
Fill every compulsory field in the registration form, pick a Login Name and strong Password, review the Declaration and the Terms & Conditions and tick the boxes, then enter the Captcha Code and click "Register/Signup".
Enter your Login Name, Password and the Captcha…
Enter your Login Name, Password and the Captcha Code, and click "Login".
Go to "Services" on the top ribbon and…
Go to "Services" on the top ribbon and select "IT Services". Pick the scheme by name to reach its application form, complete all compulsory fields, and upload every compulsory document.
Submit the application; keep the unique registration number…
Submit the application; keep the unique registration number that appears for any future follow-up.
NOTE: Applicants may file on a quarterly/bi-annually/annual basis after the relevant expenditure has been made.
Disbursement Timeline
Date the incentive application is received: D
Scrutiny of the application using the checklist: D+30days
Approval by the Empowered Committee: D+60 days
Issue of Regret Letter/Sanction Orders and Disbursement: D+90 days
Exclusions / Who Is Not Eligible
The units availing similar financial incentives under any other policy of the Government of Goa are not eligible for availing benefits under this scheme.
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.