The College was established by the Fabrica of Our Lady of Rosary Church, Navelim. It was blessed by Dom Raul Gonsalves, Archbishop of Goa & Daman & Patriarch of East Indies and inaugurated by Prof. B.S. Sonde, Vice-Chancellor of Goa University on May 30, 1999 during the tenure of Fr. Leonardo Correia as Parish Priest.
This College is managed by the Diocesan Society of Education. The Archdiocese of Goa and Daman has set up two Diocesan Colleges, viz. St. Xavier's College, Mapusa. (established in 1963) catering mostly to the student population of North Goa district and Rosary College , Navelim, catering mostly to the student population of South Goa District. Rosary College of Commerce & Arts is a minority institution under article 30 (I) of the Indian Constitution. The Government of Goa granted permission to open a Degree College with First Year Arts, Commerce, and Science classes on 22-12-1989 through its letter No. DL-/Col cell/89-90/172/979.
The Goa University granted affiliation for Commerce facility in June 1990 and affiliated for Arts Faculty in May 1991. In the academic year 1998-99 permission was granted for self-financed BCA (Com.) three years degree course by Goa University & Govt. of Goa. Permanent affiliation was also granted by Goa University to our Commerce Faculty in 1998 and to our Arts Faculty in 1999. Affiliation for the three years B.B.A. degree course was granted from 2000-2001.