Managing Go dependencies efficiently can be achieved by setting up a Go Repository, providing a central and reliable location for shared team dependencies. Utilizing JFrog's free cloud subscription services, including Artifactory, Xray, and Pipelines, one can quickly establish local, remote, and virtual Go Registries. The process involves logging into the JFrog environment, creating local and remote repositories for storing custom and third-party dependencies, and setting up a virtual repository to organize these resources. The setup is enhanced by forking a JFrog Maven/Gradle example from GitHub and configuring the JFrog CLI to streamline automation. By completing these steps, users can build and resolve project dependencies using Artifactory, publish packages, and manage build information, ultimately creating an organized environment for Go project dependencies.