Capital Investment Subsidy Scheme for Goan Diaspora

Description
Launched in 2018, the "Capital Investment Subsidy Scheme for Goan Diaspora" is one of the "Information Technology Policy Schemes" by the Department of Information Technology, Government of Goa. All New Units developing office spaces will be eligible for a capital investment subsidy up to 20% on the capital investments made during the tenure of the Scheme. The scheme has been framed as a part of Goa's IT Policy that envisages Goa as an aspirational geographical and human resource base for IT Units and a preferred destination for their investment and expansion.

Exclusions
• The units availing similar financial incentives under any other policy of the Government of Goa are not eligible for availing benefits under this scheme.

Benefits
• 1. A capital investment subsidy of up to 20% on the capital investments made during the tenure of the Scheme.
• 2. An additional 10% subsidy on capital investments in case of establishment of Mega Business Units.
• 3. 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.
• 4. 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.
• 5. An additional 10% investment subsidy on the capital investments shall be provided in case of units are owned by the Goan Diaspora.
• 6. Incentives shall be disbursed on a pro-rata basis based on the percentage of Employees of Goan origin or Goan Graduates:
• Upto 30% of employees on rolls of the company: 50%
• 30% to 60% employees on rolls of the company: 75%
• More than 60%employees on rolls of the company: 100%
• 7. In case of any expansions, the unit can avail the investment subsidy, provided it meets the criteria of the Expansion Unit. New employees of the expansion should be on the rolls for at least one year prior to the date of application.
• 8. The maximum rebate under this provision would be as follows:
• Smaller Business Units: ₹ 10,00,000
• Other Business Units: ₹ 50,00,000
• Mega Business Units: ₹ 1,00,00,000
• NOTE 1: The benefits under this scheme are subject to budgetary allocation. No Promissory Estoppel shall be applicable if benefits are discontinued in case the allocation is exceeded.
• NOTE 2: Only expenditures incurred during the operation of the policy will be considered.
• NOTE 3: Capital investments do not include investments made towards land and building, if any, by the applicant.

Eligibility Criteria
1. The applicant should be a New/Existing Unit.
2. The applicant should have their operations in Goa.
3. The applicant should be one of the following:
4. - Proprietorship Firm
5. - Private Limited Company incorporated under the Companies Act, 2013 (or equivalent)
6. - Public Limited Company incorporated under the Companies Act, 2013 (or equivalent)
7. - Registered Partnership Firm incorporated under the Indian Partnership Act, 1932 (or equivalent)
8. - Limited Liability Partnership incorporated under the Limited Liability Partnership Act, 2008 (or equivalent)
9. The bank accounts of the unit and/or its partner(s)/director(s) should be linked to Aadhaar.
10. 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.
11. The company/ firms should be registered in Goa.
12. The company/ firms' CEO / Head or the Majority Stakeholder(s) should be Goan Diaspora.
13. The company/ firm should hire minimum 15 employees and minimum 60% of those employees should be of Goan Origin.
14. The employees should be on the rolls of the company for a minimum period of one year.
15. **NOTE:** Units will be subject to evaluation at the end of Fiscal Year to verify eligibility for continuing to receive subsidy under this scheme.

Application Process
Step 1: Step 1: Visit the Official Web Portal of Goa Online. At the top right corner, click "Register".
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Step 1: Visit the Official Web Portal of Goa Online. At the top right corner, click "Register".

Step 2: Step 2: On the next page, verify your Email ID and Mobile Number using OTP. You will be redirected to the Registration Page.
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Step 2: On the next page, verify your Email ID and Mobile Number using OTP. You will be redirected to the Registration Page.

Step 3: Step 3: On the Registration Page, fill in all the mandatory fields of the registration form. Create a Login Name and a strong Password. Carefully read the Declaration and the Terms & Conditions, and tick the checkboxes. Fill in the Captcha Code, a…
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Step 3: On the Registration Page, fill in all the mandatory fields of the registration form. Create a Login Name and a strong Password. Carefully read the Declaration and the Terms & Conditions, and tick the checkboxes. Fill in the Captcha Code, and click "Register/Signup".

Step 4: Step 4: Login to the website using your Login Name and Password. Fill in the Captcha Code, and click "Login".
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Step 4: Login to the website using your Login Name and Password. Fill in the Captcha Code, and click "Login".

Step 5: Step 5: In the top ribbon, click on "Services", then click on "IT Services". Click on the name of the scheme. You will be taken to the application form for the scheme. Fill in all the mandatory fields and upload all the mandatory documents.
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Step 5: In the top ribbon, click on "Services", then click on "IT Services". Click on the name of the scheme. You will be taken to the application form for the scheme. Fill in all the mandatory fields and upload all the mandatory documents.

Step 6: Step 6: Submit the application. A unique registration number will be generated. Note this number for future reference.
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NOTE: The applicant can apply for this scheme on a quarterly/bi-annually/annual basis after incurring the relevant expenditure.
Incentive Application Receipt: D
Application scrutiny as per checklist: D+30days
Application approval by the Empowered Committee: D+60 days
Issue of Regret Letter/Sanction Orders and Disbursement: D+90 days

Required Documents
• 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.

Frequently Asked Questions
Q: What are the prerequisites for availing the capital investment subsidy under the scheme?
A: The unit and/or its partner(s)/director(s) should have linked their bank accounts to Aadhaar.

Q: How long should a unit operate from a specific office space to be eligible for capital investment subsidy?
A: A unit must operate from the designated office space for a period exceeding one year to avail the capital investment subsidy.

Q: Is there a specific geographical requirement for registration to qualify for the subsidy?
A: Yes, the company/firms should be registered in Goa to be eligible for the scheme.

Q: What criteria determine the eligibility of the CEO/Head or Majority Stakeholder(s) for the subsidy?
A: The CEO/Head or Majority Stakeholder(s) should be of Goan Diaspora to qualify for the subsidy.

Q: How is the workforce composition considered for eligibility under the scheme?
A: The company/firm should have a minimum of 15 employees, with at least 60% of them being of Goan origin.

Q: What tenure should the employees be on the company's rolls to meet the eligibility criteria?
A: Employees should be on the company's rolls for a minimum period of one year to qualify for the subsidy.

Q: How often are units evaluated for subsidy eligibility under the scheme?
A: Units are subject to evaluation at the end of the Fiscal Year to verify continued eligibility for receiving subsidy.

Q: What are the different components of the capital investment subsidy?
A: The capital investment subsidy includes a base subsidy of up to 20%, with an additional 10% for Mega Business Units.

Q: How are incentives disbursed based on the percentage of Goan origin employees?
A: 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.

Q: What is the maximum rebate available for smaller business units and other business units under the expansion provision?
A: 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.

Q: Where Can I Find The Link To The Scheme Guidelines?
A: 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

Q: Where Can I Find The Link To The Official Gazette?
A: You can obtain the Official Gazette by visiting this specific webpage: https://ditc.goa.gov.in/sites/default/files/Target-Schemes.pdf