Lease Rental Rebate Scheme for Goan Diaspora
Lease Rental Rebate Scheme for Goan Diaspora
The “Lease Rental Rebate Scheme for Goan Diaspora” aims to support Goan entrepreneurs by providing significant financial incentives for their business operations. This initiative, introduced by the Department of Information Technology, Government of Goa, focuses on enabling the Goan diaspora to establish and expand their enterprises in Goa by offering a substantial rebate on lease rentals.
Overview of the Scheme
Initiated in 2018, the “Lease Rental Rebate Scheme for Goan Diaspora” falls under the larger framework of Goa’s Information Technology Policy. The primary goal of this scheme is to foster a conducive environment for IT units, positioning Goa as a prime location for investment and growth in the technology sector. Eligible applicants can receive a 100% reimbursement of their lease rentals for the initial six months of their operations.
Key Benefits
- Full Lease Reimbursement: 100% reimbursement of lease rentals is given for the first six months of operations.
- Ongoing Financial Support: A reimbursement of ₹35 per square foot or 80% of total lease rentals, whichever is less, for up to two years.
- Employee-Based Incentives: Incentives are disbursed on a pro-rata basis according to the percentage of employees of Goan origin or Goan graduates:
- Up to 30% of employees: 50% reimbursement
- 30% to 60% of employees: 75% reimbursement
- More than 60% of employees: 100% reimbursement
Note: Benefits are subject to budgetary allocation, and no promissory estoppel will apply if the allocation is exceeded. Only expenses incurred during the policy’s operation will be considered eligible.
Eligibility Requirements
- The applicant must be a new or existing business unit.
- Operations must be based in Goa.
- Eligible entities include:
- Proprietorship Firm
- Private Limited Company registered under the Companies Act, 2013 (or equivalent)
- Public Limited Company registered under the Companies Act, 2013 (or equivalent)
- Registered Partnership Firm under the Indian Partnership Act, 1932 (or equivalent)
- Limited Liability Partnership under the Limited Liability Partnership Act, 2008 (or equivalent)
- Bank accounts of the unit and/or its partners/directors must be linked to Aadhaar.
- The unit must have been operational for at least one year before applying.
- For the specific office space, the IT unit must have operated there for over a year to qualify for the rebate.
- The company or firm must be registered in Goa.
- The CEO, Head, or majority stakeholders of the company/firm must belong to the Goan diaspora.
- A minimum of 15 employees must be hired, with at least 60% being of Goan origin.
- Employees should have been on the company’s payroll for a minimum of one year.
Note: Units will undergo evaluation at the end of each fiscal year to determine continued eligibility for subsidies under this scheme.
Exclusions
Units that are already receiving similar financial incentives under any other Government of Goa policies are not eligible for benefits under this scheme.
Application Procedure
To apply for the Lease Rental Rebate Scheme, follow these steps:
- Visit the Official Goa Online Portal: Click on “Register” located at the top right corner.
- Email and Mobile Verification: Verify your email ID and mobile number using the OTP received. Next, you will be directed to the Registration Page.
- Complete Registration: Fill out all mandatory fields, create a login name and strong password. Read and accept the Declaration and Terms & Conditions, then submit the Captcha code and click “Register/Signup”.
- Log In: Use your login credentials to access the website.
- Access Application Form: Click on “Services”, then “IT Services”, and select the scheme name to access the application form. Fill in all required information and upload necessary documents.
- Submit Application: After completing the form, submit it. You will receive a unique registration number for future reference.
Note: Applicants can submit applications on a quarterly, bi-annual, or annual basis after incurring the relevant expenditures.
Disbursement Timeline
| Process Step | Timeline |
|---|---|
| Receipt of Incentive Application | D |
| Application Scrutiny Based on Checklist | D + 30 days |
| Approval by the Empowered Committee | D + 60 days |
| Issuance of Regret Letter/Sanction Orders and Disbursement | D + 90 days |
For more detailed information, visit the official source at myScheme.gov.in.
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:
Proprietorship Firm
Private Limited Company incorporated under the Companies Act, 2013 (or equivalent)
Public Limited Company incorporated under the Companies Act, 2013 (or equivalent)
Registered Partnership Firm incorporated under the Indian Partnership Act, 1932 (or equivalent)
Limited Liability Partnership incorporated under the Limited Liability Partnership Act, 2008 (or equivalent)
4. The bank accounts of the unit and/or its partner(s)/director(s) should be linked to Aadhaar.
5. The unit should be operational for at least one year prior to the date of application.
6. For a said office space, an IT unit can avail lease rental rebate only if the unit has operated from the said office space for a period of more than one year.
7. The company/ firms should be registered in Goa.
8. The company/ firms' CEO / Head or the Majority Stakeholder(s) should be Goan Diaspora.
9. The company/ firm should hire minimum 15 employees and minimum 60% of those employees should be of Goan Origin.
10. 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 Fiscal Year to verify eligibility for continuing to receive subsidy under this scheme.
Benefits
1. A 100% reimbursement of the lease rentals will be provided for a period of first 6 months of operations.
2. A reimbursement of ₹ 35 per sq. ft. or 80% of the total lease rentals; whichever is lower; will be provided up to a maximum period of 2 years.
3. Incentives shall be disbursed on a prorata 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%
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 expenditure incurred during the operation of the policy will be considered.
Application Process
Apply OnlineStep 1: Visit the Official Web Portal
of Goa Online. At the top right corner, click "Register
".
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: 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: Login to the website using your Login Name and Password. Fill in the Captcha Code, and click "Login".
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: Submit the application. A unique registration number will be generated. Note this number for future reference.
NOTE: The applicant can apply for this scheme on a quarterly/bi-annually/annual basis after incurring the relevant expenditure.
Disbursement Timeline
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
References & Official Links
Scheme Details
| Full Name | Lease Rental Rebate Scheme for Goan Diaspora |
| Short Title | LRSGD |
| Level | State |
| Scheme For | Infra |
| Categories | Business & Entrepreneurship |
| States | Goa |
| Gender | All |
| Age Range | 15 — 30 years |
| Area | Both |
| Source | myScheme.gov.in ↗ |