Lease Rental Subsidy Scheme
Category: Business & Entrepreneurship
Level: State | State: Goa

Details:
Launched in 2018, the "Lease Rental Subsidy Scheme" is one of the "Information Technology Policy Schemes" by the Department of Information Technology, Government of Goa. The objective and the scope of this scheme is to provide Lease Rental Subsidy to the eligible Information Technology Units in the State of Goa. All the New and Existing Units having their operations in Goa are eligible. 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.

Benefits:
1.   A rental/ Lease reimbursement on the built-up office space lease/rent, up to 50% of the Annual Lease Rentals (60% in cases where 30% or more of the employees are women) for a period of 2 years. 
2.   Incentives under clause 2.1 above shall be disbursed on a pro-rata basis based on the number 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%
*In order to avail the benefits of the scheme, the employees should be on the rolls of the company for a minimum period of one year.
3.  The above rebate is also applicable if the built-up space is leased from GIDC/ any Government Agency.
4.  For the units availing land from GIDC/ any Government Agency, a reimbursement of the upfront lease premium (as per the Stamp Registration) paid by the unit shall be reimbursed as per the payment to the Allotment Agency. In addition, the annual lease rentals paid to the allotment can also be claimed post-completion of one year of operation. This reimbursement would be provided for a period of 2 years. 
5.  In order to avail of this benefit the unit should be operational for at least one year prior to the date of applying for the incentive.
6.  The Maximum benefit under this scheme for smaller business units would be ₹10,00,000.
7.  There is no cap for the Mega & Other Business Units under this Scheme.
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: 
The applicant units will be subject to evaluation at the end of the Fiscal Year to verify eligibility for continuing to receive a subsidy under this scheme.

Eligibility Criteria:
1.   The applicant should be a New or an Existing Unit.
2.   The applicant must have their operations in Goa.
3.   The applicant must 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 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.
NOTE: Only the expenses incurred after the notification of this policy will be eligible for a lease rental rebate subsidy.