Capital Investment Subsidy Scheme for Goan Diaspora in Noida
CISSGD
Department of Information Technology, Government of Goa
Guidance for businesses in Noida
Launched in 2018, "Capital Investment Subsidy Scheme for Goan Diaspora" is one of the "IT Policy Schemes" by the Dept of IT, Govt of Goa. All New Units developing office spaces will be eligible for a capital investment subsidy upto 20% on the capital investments made during the tenure of the Scheme.
At a glance
- Smaller Business Units
- ₹10,00,000
- Other Business Units
- ₹50,00,000
- Mega Business Units
- ₹1,00,00,000
- Base subsidy
- Up to 20% of capital investment
- Add-ons
- +10% (Mega / focus area / Goan Diaspora)
Benefits
A capital investment subsidy of up to 20% on the capital investments made during the tenure of the Scheme.
An additional 10% subsidy on capital investments in case of establishment of Mega Business Units.
All Existing Units, which qualify as Mega Units, are also eligible for capital investment subsidy up to 20% of the capital investment incurred in the last 3 years before the date of notification of this policy.
An additional 10% subsidy on capital investments will be provided for the establishment of office spaces for the industries identified as key focus areas for the Government.
An additional 10% investment subsidy on the capital investments shall be provided in case of units owned by the Goan Diaspora.
Incentives shall be disbursed on a pro-rata basis based on the percentage of Employees of Goan origin or Goan Graduates: up to 30% of employees on rolls — 50%; 30% to 60% — 75%; more than 60% — 100%.
In case of any expansions, the unit can avail the investment subsidy provided it meets the criteria of the Expansion Unit (new employees on rolls at least one year prior to application).
Maximum rebate: Smaller Business Units ₹10,00,000; Other Business Units ₹50,00,000; Mega Business Units ₹1,00,00,000. (Subject to budgetary allocation; only expenditures during the policy operation are considered; capital investments exclude land and building.)
Eligibility
- The applicant should be a New/Existing Unit.
- The applicant should have their operations in Goa.
- The applicant should be one of: Proprietorship Firm; Private Limited Company (Companies Act, 2013 or equivalent); Public Limited Company (Companies Act, 2013 or equivalent); Registered Partnership Firm (Indian Partnership Act, 1932 or equivalent); Limited Liability Partnership (LLP Act, 2008 or equivalent).
- The bank accounts of the unit and/or its partner(s)/director(s) should be linked to Aadhaar.
- For a said office space, any IT company can avail of capital investment subsidy only if the unit has operated from the said office space for a period of more than one year.
- The company/firms should be registered in Goa.
- The company/firms' CEO/Head or the Majority Stakeholder(s) should be Goan Diaspora.
- The company/firm should hire minimum 15 employees and minimum 60% of those employees should be of Goan Origin.
- The employees should be on the rolls of the company for a minimum period of one year.
- NOTE: Units will be subject to evaluation at the end of the Fiscal Year to verify eligibility for continuing to receive subsidy under this scheme.
Documents required
- Copy of Incorporation Certificate
- Copy of new unit registration document/certificate
- Copies of PAN, Aadhaar and GST TIN
- Memorandum and Articles of Association
- Copy of first bill generated showing the date of commencement of operations or other relevant document
- Occupancy certificate from developer/local authority for said office space
- 3-year business plan/detailed project report (DPR) with projected investment and employment targets
- Details of employees and percentage of employees of Goan origin
- Contractor agreements, purchase orders, and other supporting documents for capital investment made
- Receipts or other proof of payment for items listed above
- Certified copy from the auditor or Chartered Accountant certifying the investments made
- Udyog Aadhaar.
How to apply
Step 1: Visit the Official Web Portal of Goa Online and click 'Register' at the top right corner. Step 2: Verify your Email ID and Mobile Number using OTP; you are redirected to the Registration Page. Step 3: Fill all mandatory fields, create a Login Name and strong Password, accept the Declaration and Terms & Conditions, fill the Captcha and click 'Register/Signup'. Step 4: Login with your Login Name and Password (and Captcha). Step 5: Click 'Services' > 'IT Services', click the scheme name, fill all mandatory fields and upload all mandatory documents. Step 6: Submit the application; a unique registration number is generated. Applicants can apply quarterly/bi-annually/annually after incurring the relevant expenditure. Disbursement timeline: scrutiny D+30 days, approval by Empowered Committee D+60 days, sanction/disbursement D+90 days.
About the scheme
This Goa IT Policy scheme (Department of IT, launched 2018) provides new units developing office spaces a capital investment subsidy of up to 20% on capital investments — with additional 10% subsidies for Mega Business Units, key focus-area industries, and units owned by the Goan Diaspora — and rebates up to ₹1,00,00,000 depending on the business unit size.
Why it matters
- 20% Subsidy:
- On capital investments in office spaces.
- 10% Add-ons:
- Mega Units, focus areas, Goan Diaspora.
- Diaspora Focus:
- For Goan Diaspora-owned units.
- Local Jobs:
- Pro-rata by Goan-origin employment.
Focus areas
- Goan Diaspora:
- Units owned by the diaspora.
- Office Spaces:
- Capital investment in IT office spaces.
- Local Employment:
- Goan-origin workforce.
Is this scheme right for you?
This scheme encourages the Goan Diaspora to invest in Goa's IT sector with generous capital investment subsidies and local-employment-linked incentives. If your Goa-registered, diaspora-led unit hires locally, this scheme can offset a large share of your office-space investment.
Official links
- goa.gov.in/wp-content/uploads/2020/08/ITPolicyS…
- ditc.goa.gov.in/sites/default/files/Target-Schemes.pdf
Links open the issuing department's website. Always confirm the current terms there before applying.
Frequently asked questions
What are the prerequisites for availing the capital investment subsidy under the scheme?
The unit and/or its partner(s)/director(s) should have linked their bank accounts to Aadhaar.
How long should a unit operate from a specific office space to be eligible for capital investment subsidy?
A unit must operate from the designated office space for a period exceeding one year to avail the capital investment subsidy.
Is there a specific geographical requirement for registration to qualify for the subsidy?
Yes, the company/firms should be registered in Goa to be eligible for the scheme.
What criteria determine the eligibility of the CEO/Head or Majority Stakeholder(s) for the subsidy?
The CEO/Head or Majority Stakeholder(s) should be of Goan Diaspora to qualify for the subsidy.
How is the workforce composition considered for eligibility under the scheme?
The company/firm should have a minimum of 15 employees, with at least 60% of them being of Goan origin.
What tenure should the employees be on the company's rolls to meet the eligibility criteria?
Employees should be on the company's rolls for a minimum period of one year to qualify for the subsidy.
How often are units evaluated for subsidy eligibility under the scheme?
Units are subject to evaluation at the end of the Fiscal Year to verify continued eligibility for receiving subsidy.
What are the different components of the capital investment subsidy?
The capital investment subsidy includes a base subsidy of up to 20%, with an additional 10% for Mega Business Units.
How are incentives disbursed based on the percentage of Goan origin employees?
Incentives are disbursed on a prorata basis: 50% for up to 30% of employees, 75% for 30% to 60%, and 100% for over 60% Goan origin employees.
What is the maximum rebate available for smaller business units and other business units under the expansion provision?
Smaller Business Units can avail a maximum rebate of ₹10,00,000, while other Business Units can avail ₹50,00,000 under the expansion provision. Mega Business Units can avail ₹1,00,00,000.
Where Can I Find The Link To The Scheme Guidelines?
You can access the comprehensive Scheme Guidelines, which provide intricate details and instructions, at the following web address: https://www.goa.gov.in/wp-content/uploads/2020/08/ITPolicySchemes2018.pdf
Where Can I Find The Link To The Official Gazette?
You can obtain the Official Gazette by visiting this specific webpage: https://ditc.goa.gov.in/sites/default/files/Target-Schemes.pdf
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