Government of Goa, India

Government of Goa, India

invest in goa

The Government of Goa proposes to set up an Investment Promotion Board as the nodal authority for investments in Goa which meet any/all of the below criteria:

  1.  Investment upwards of Rs. 5 crore
  2. Area requirement equal to or above 3000 sq. meters
  3. Classified under the Red or Orange category as per Goa State Pollution Control Board guidelines
  4. Investments less than or equal to Rs. 5 crore and not meeting any of the criteria above can approach a dedicated sub- committee headed by the concern Minister Incharge to be set up within the Investment Promotion Board that will serve as a facilitator for investments of value less than or equal to Rs 5 crore.

The Investment Promotion Board will be a fully empowered statutory entity, headed by a full-time CEO and supported by a dedicated team. The Board will be non-executive and include 6 members from the industry. The Secretary (Industries) shall be permanent member and other Secretary and Head of the Department shall be invited as and when required. The Chief Minister of Goa will be the Chairperson, the Deputy Chief Minister the Joint Chairperson, the Industries Minister the Vice-Chairperson, and the Tourism Minister and Information Technology Minister will be members of the Board. The Board will meet on a fortnightly basis.

The CEO of the board will be an industry professional, a Class I Officer and Member Secretary. The CEO shall be selected by a committee which would comprise of the Principal Secretary (Industries), and representatives selected from industry bodies/associations of Goa.

  •  Register on Goa Online portal and sign-in. Go to ‘All services’ under the ‘Services’ tab.
    • Scroll down to find Investment Promotion Board and click on ‘In-principal Approval’ and proceed to apply.
    • The applicants based on their requirement have to select one of the 3 options to move ahead with the application process:
      • Application For new investment,
      • Application for expansion, or
      • Application for facilitation only (land with clear title and zoning)
    • Fill in the application form and attach relevant documents (listed below).
    • Submit the application and note the acknowledgement no. for application tracking.
    • The applicant has to pay an initial processing fees (refer to Table 1.1) based on the quantum of investment amount.
    • The application is verified by concerned officers and investors are asked for shortcomings in documents (if any).
    • Subject to successful verification, applications are evaluated by the concerned officers and placed to the Board.
    • The Board approves/rejects the application based on the evaluation and other criteria.
    • If approved, the applicant has to pay the surplus fees (refer to Table 1.2) to receive the in-principal approval letter.
    • The applicant then applies for land to Goa Industrial Development Corporation
  1. Letter of Intent from any Bank or Financial Institution (template provided)
  2. Net Worth Certificate of the promoter certified by a CA
  3. Shareholding Pattern certified by a CA 
  4. Promoter(s) income tax return of preceding 3 financial years
  5. Detailed Project Layout
  6. Detailed Project Report (template provided)
  7. Audited Financial Statement of preceding 3 financial years
  8. Title document for private land
  9. Zoning certificate
  10. ETP/STP Flowchart
  11. NOC from GCZMA
  12. Template provided for financial projections, employment projection and land related details to be filled and uploaded.

First Part: The investor shall be required to submit the processing fee mentioned in Table 1.1 while submitting the proposal online over a single window system.

Second Part: The second part of the fee mentioned in Table 1.2 shall be submitted by an investor prior to issuance of in-principle approval.

Fee Structure

First Part: The investor shall be required to submit the processing fee mentioned in Table 1.1 while submitting the proposal online over a single window system.

Second Part: The second part of the fee mentioned in Table 1.2 shall be submitted by an investor prior to issuance of in-principle approval.

Guiding principles for evaluating Investment Proposals

The Investment Promotion Board has developed a detailed framework for evaluating investment proposals based on the following guiding principles: Preference will be given to 

1a. Investors in the thrust areas.

1b. Existing investors in Goa.

2. Investments proposed for environment friendly units.

3. Investments proposed in remote/backward talukas.

4a. Investments which generate significant employment for Goans.

4b. Investment with higher ratio of employment generation to land requirement.

4c. Investments that generate jobs with attractive compensation and skill development.

5. Investors with good corporate governance standards.

6. Investments which will generate high revenue for the state government.

7. Investments with higher ratio of state government revenue to land requirement.

Know your approvals

Know your Approval Info Wizard is a series of questions designed to help prospective investors identify the pre-establishment and pre-operation approvals required to setup business in Goa.

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