Palanhar Scheme 2026

Launched in 2018, this scheme helps new and existing IT units in Goa by providing a capital Read More... investment subsidy of up to 20% on eligible investments. Read less

Details

Goa is attracting IT investments, and to further boost this, the state government has introduced the Capital Investment Subsidy Scheme for Goan Diaspora. Launched in 2018, this initiative is part of Goa's IT Policy and aims to make the state a hub for IT businesses.

What Is This Scheme?

The Capital Investment Subsidy Scheme for Goan Diaspora is designed to encourage new and existing IT companies to invest in office spaces within Goa. Under this scheme, eligible businesses can receive a significant subsidy on the money they invest in setting up or expanding their operations.

Who Can Benefit From This Scheme?

This scheme is primarily for IT units, both new and existing ones, looking to establish or grow their presence in Goa. It specifically targets companies that are registered in Goa and have a strong connection to the Goan diaspora, ensuring that the benefits foster local employment and economic growth.

Why This Scheme Is Important

The scheme plays a crucial role in realizing Goa's vision of becoming a top destination for IT investment. By offering financial incentives, it aims to attract businesses, create employment opportunities for local talent, and contribute to the overall economic development of the state.

Objective

Launched in 2018, this scheme helps new and existing IT units in Goa by providing a capital investment subsidy of up to 20% on eligible investments.

Benefits

Orphan Category :

For the age group (0 to 6 years) : Rs. 1500/- per month.

For the age group (6 to 18 years) : Rs. 2500/- per month.

Other Category:

For the age group (0 to 6 years) : Rs. 500/- per month.

For the age group (6 to 18 years) : Rs. 1000/- per month.

For Books/Stationaries/Dress/Sweater/shoes etc: Rs. 2000/- per year.

Sources and references

Guidelines-1

Eligibility Criteria

You must be applying as a new or an existing business unit.
Your operations must be based in Goa.
Your business can be one of the following legal structures:
- Proprietorship Firm
- Private Limited Company (under Companies Act, 2013 or equivalent)
- Public Limited Company (under Companies Act, 2013 or equivalent)
- Registered Partnership Firm (under Indian Partnership Act, 1932 or equivalent)
- Limited Liability Partnership (under Limited Liability Partnership Act, 2008 or equivalent)
The bank accounts of your unit and/or its partners/directors must be linked with Aadhaar.
To claim the capital investment subsidy for an office space, your IT company must have been operating from that specific space for over one year.
Your company or firm must be registered in Goa.
The CEO, Head, or Majority Stakeholder(s) of your company/firm should belong to the Goan Diaspora.
Your company/firm needs to hire at least 15 employees, and a minimum of 60% of these employees must be of Goan origin.
These employees must have been employed with you for at least one year.

Note: Your unit's eligibility for continued subsidy will be checked through an evaluation at the end of each fiscal year.

How To Apply

To apply for the Capital Investment Subsidy Scheme for Goan Diaspora, please follow these steps:

Gather all the necessary documents as listed in the 'Documents Required' section.
Ensure your company/firm meets all the eligibility criteria mentioned.
Submit your application with all supporting documents.
The exact application submission details and forms can be found through the official government channels. You can refer to the official sources for precise instructions.

Official Sources for Application:

Scheme Guidelines: ITPolicySchemes2018.pdf
Official Gazette Link: Target-Schemes.pdf

Documents Required

Copy of the Incorporation Certificate.
Copy of your new unit registration document or certificate.
Copies of your PAN, Aadhaar, and GST TIN.
Memorandum and Articles of Association.
A copy of the first bill generated showing the date operations began, or another relevant document confirming this.
Occupancy certificate for the office space, issued by the developer or local authority.
A 3-year business plan or detailed project report (DPR) including projected investments and employment targets.
Details of your employees and the percentage of Goan origin employees.
Contractor agreements, purchase orders, and other proofs for capital investments made.
Receipts or other payment proofs for the investments listed.
A certified copy from an auditor or Chartered Accountant confirming the investments made.
Udyog Aadhaar.

Official Sources

Scheme Guidelines: ITPolicySchemes2018.pdf
Official Gazette Link: Target-Schemes.pdf

FAQ’s

What is the minimum operational period required from an office space to claim the subsidy?

Your IT company needs to have been operating from the designated office space for more than one year to be eligible for the capital investment subsidy.

Can existing businesses also apply for this subsidy?

Yes, existing units in Goa can apply for the subsidy, provided they meet the scheme's criteria, including those for Mega Units and expansion projects.

What proof is needed to show capital investments made?

You will need to provide contractor agreements, purchase orders, receipts or other proof of payment for the investments, along with a certification from an auditor or Chartered Accountant.

Is there any special benefit for units owned by Goans living abroad?

Yes, units owned by the Goan Diaspora receive an additional 10% investment subsidy on their capital investments.

How is the subsidy calculated based on employee origin?

Incentives are prorated: 50% for up to 30% Goan employees, 75% for 30%-60% Goan employees, and 100% for over 60% Goan employees.

What kind of business entities are eligible for this scheme?

The scheme is open to Proprietorship Firms, Private/Public Limited Companies, Registered Partnership Firms, and Limited Liability Partnerships, provided they are registered in Goa.

How much subsidy can a Mega Business Unit receive?

Mega Business Units can get a base subsidy of up to 20%, plus an additional 10% subsidy. The maximum rebate for Mega Business Units is ₹1,00,00,000.

Will I need to link my Aadhaar to my bank account for this scheme?

Yes, it's a requirement that the bank accounts of the unit and/or its partners/directors should be linked to Aadhaar.

What is the minimum number of employees a company must hire?

To be eligible, your company or firm must hire at least 15 employees, with at least 60% of them being of Goan origin.

How do I get the official scheme guidelines?

You can find the detailed scheme guidelines on the Goa government website at: https://www.goa.gov.in/wp-content/uploads/2020/08/ITPolicySchemes2018.pdf

How often is eligibility for the subsidy checked?

Units are evaluated at the end of each Fiscal Year to ensure they continue to meet the eligibility criteria for receiving the subsidy.

Does the scheme cover investments in land and buildings?

No, capital investments under this scheme do not include any investments made towards the purchase of land and buildings.