Goa

Less number of foreigners doing biz in Goa

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The number of foreigners visiting Goa for business purposes has fallen considerably. While 26 foreign tourists on a business visa established ventures in Goa in 2007, the number was 5 in 2008. Data obtained by TOI from the Foreigner’s Registration Office of the Goa Police under the Right to Information Act reveals that the highest number of foreigners setting up business in the state was in 2005, when 53 foreigners set up shop in the state. The number dipped to 33 in 2006.

“There has been a decline in the number of foreigners setting up business in Goa. This is mainly due to strict measures by the Central and state governments to curb illegal business by foreigners,” said Nitin Kunkolienkar president of the Goa Chamber of Commerce and Industry.

Vikram Varma, legal advisor to some foreigners running businesses in Goa confirms the loss of interest among foreigners in starting business in Goa. Varma said, “Most of my clients who intended to invest in Goa have lost confidence in the safety of their investments here. This has happened as foreigners with genuine business interest were specifically targeted and their immovable properties confiscated.”

TOI

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