AI SummaryCapital Investment Subsidy Scheme for Goan Diaspora is a state scheme run by the Department of Information Technology, Government of Goa under the Goa IT Policy 2018. It supports IT units set up by the Goan diaspora by offering a capital investment subsidy of up to 20% on capital investments made during the tenure of the scheme.
The Goa IT Policy 2018 has been extended by the state government till August 2027, so applications under this scheme continue to be accepted. The scheme helps new IT businesses and entrepreneurial ventures started by the Goan diaspora to grow and create jobs in the technology sector in Goa.
Capital Investment Subsidy Scheme for Goan Diaspora - Introduction
Capital Investment Subsidy Scheme for Goan Diaspora is one of the schemes framed under the Goa IT Policy 2018 by the Department of Information Technology, Government of Goa. The scheme encourages IT units to set up or expand their operations in Goa by providing financial support for infrastructure and office space development.
All new units developing office spaces are eligible for a capital investment subsidy of up to 20% on the capital investments made during the tenure of the scheme. An additional 10% subsidy is given when the unit is owned by members of the Goan diaspora, and a further 10% is available for Mega Business Units and for office spaces set up for key focus industries identified by the government.
Key Information
| Scheme Name | Capital Investment Subsidy Scheme for Goan Diaspora |
| Level | State |
| Scheme For | Infra |
| Beneficiary State | Goa |
| Category | Business & Entrepreneurship |
| Target Beneficiaries | Business Entity |
| Sub Category | Start-up, entrepreneurship, employee management |
| Benefit Type | Cash |
| DBT Scheme | No |
| Nodal Department | Department of Information Technology, Electronics and Communication (DITE&C) |
Benefits
Eligible IT units can get several financial incentives under the scheme to help grow their business in Goa:
1. A capital investment subsidy of up to 20% on capital investments made during the tenure of the scheme.
2. An additional 10% subsidy for Mega Business Units.
3. Existing Mega Units can claim up to 20% subsidy on capital expenditure incurred in the 3 years before the policy notification.
4. An extra 10% subsidy for setting up office spaces for key focus area industries.
5. An additional 10% investment subsidy when the unit is owned by members of the Goan diaspora.
6. Incentives are calculated on a pro-rata basis based on team composition:
| Staff Composition | Incentive |
|---|---|
| Up to 30% Goan Employees | 50% |
| 30% to 60% Goan Employees | 75% |
| More than 60% Goan Employees | 100% |
7. For expansion projects, the subsidy can be claimed if the expansion criteria are met and new hires have been kept on the rolls for at least one year.
8. The maximum rebate available is listed below:
| Unit Category | Max Rebate |
|---|---|
| Smaller Business Units | ₹ 10,00,000 |
| Other Business Units | ₹ 50,00,000 |
| Mega Business Units | ₹ 1,00,00,000 |
Note: Benefits are subject to available budget allocation. Capital investments exclude land and building costs. Only expenses incurred during the policy period are considered.
Eligibility
To get benefits under the scheme, a unit should meet these requirements:
1. Operate as a new or existing unit registered in Goa and maintain operations within the state.
2. Be a proprietorship firm, private or public limited company, registered partnership firm, or limited liability partnership.
3. Link the bank accounts of the unit, partners, or directors to Aadhaar.
4. Have operated from the current office space for at least one year.
5. Have the CEO, head, or majority stakeholder as a member of the Goan diaspora.
6. Hire at least 15 employees, with at least 60% being of Goan origin, maintained on payroll for at least one year.
Exclusions
Benefits cannot be claimed under the scheme if the unit is already receiving similar financial incentives through other policies issued by the Government of Goa.
Application Process
Applications under the scheme are now processed through the Goa startup portal. Follow these steps to complete the online application:
STEP 1 - Go to the official portal at startup.goa.gov.in and register yourself, then log in to your account.
STEP 2 - Fill in the application form for Capital Investment Subsidy Scheme for Goan Diaspora with the required details.
STEP 3 - Upload the necessary documents as asked in the application form.
STEP 4 - Pay the applicable convenience fees online. The payment receipt can be downloaded from your inbox.
STEP 5 - Note the acknowledgement number for tracking your application status.
STEP 6 - The department will scrutinize the application and may mark it back for document compliance if needed.
STEP 7 - Track the status by navigating to Menu, Tracking, Track Status and entering the acknowledgement number.
| Process Stage | Timeline |
|---|---|
| Incentive Application Receipt | D |
| Application Scrutiny | D+30 days |
| Committee Approval | D+60 days |
| Disbursement of Funds | D+90 days |
Documents
Keep the following documents ready for the application:
- Copy of incorporation certificate and new unit registration certificate.
- Copies of PAN, Aadhaar and GST TIN.
- Memorandum and Articles of Association.
- Proof of commencement, such as the first bill.
- Occupancy certificate for the office space.
- 3-year business plan or Detailed Project Report (DPR) with investment and employment targets.
- List of employees showing their Goan origin status.
- Contractor agreements, purchase orders, and payment receipts for capital investments.
- A certified document from a Chartered Accountant regarding investments.
- Udyog Aadhaar.
References
Scheme Guidelines | Official Scheme Page | Department of IT Policies | Application Portal | Contact Us | User Manual
FAQ's
What are the prerequisites for the subsidy?
The bank accounts of the unit, partners, or directors should be linked to Aadhaar.
How long must a unit operate from its office?
The unit must operate from its office space for at least one year to qualify.
Is registration in Goa mandatory?
Yes, the company or firm must be registered in Goa.
Who must be the majority stakeholder?
The CEO, head, or majority stakeholder should be part of the Goan diaspora.
What is the minimum workforce requirement?
The unit needs at least 15 employees, with at least 60% being of Goan origin.
How long should employees be on the payroll?
Employees should be on the company rolls for at least one year.
When are evaluations performed?
The unit is evaluated at the end of each fiscal year to confirm continued eligibility.
What are the subsidy components?
The scheme offers a base 20% subsidy with an additional 10% for Mega Business Units.
How are incentives calculated for Goan employees?
Incentives are paid on a pro-rata basis, ranging from 50% to 100% depending on the percentage of Goan origin staff.
What are the maximum rebate limits?
Smaller units get up to ₹ 10,00,000, others get up to ₹ 50,00,000, and Mega Business Units can receive up to ₹ 1,00,00,000.