The National Insurance programme is a partner with employers in advancing the economic security of workers of The Bahamas. When employers pay contributions on behalf of workers, they are released from the obligation of paying full wages when employees are off sick or on maternity leave, and they are excused from liability when job-related injuries and diseases happen.
Business Registration
Businesses (employers) and self-employed persons are required to register with NIB within 10 working days of commencing operations. The employer/self-employed are assigned a unique nine (9) digit number for the payment and recording of contribution payments.
To register Employers must:
- Obtain a business license from the Department of Inland Revenue
- Complete and submit Form R1 to the National Insurance Board
- Show NIB Smart Card, another form of government identification or voter's card at the time of registration
Contributions Payments
Contributions are to be paid monthly, and should be received into the Board by the 15th day of the month following the month they were due.
- Online Payments Instructions for Royal Bank of Canada Customers
- NIB Contributions Payment Options for Employers
- Contributions Rates and Ceilings
- Contributions Table
Employer Self Service Portal
For information on the Employer's Self Service Portal, visit the Employer Self Service section of the NIB website.
Letter of Good Standing
A Letter of Good Standing is issued by the National Insurance Board (NIB) verifying that an Employer's account is current and that NIB has no objection with issuing a letter stating that the Employer does not owe NIB. To obtain a Letter of Good Standing, an Employer must:
- Register the name of the business with NIB;
- Have a current account with the correct rate of contribution payments. Contribution payments must be paid for all employees;
- Download the Contribution Status Letter Form which may be found on the NIB website: www.nib-bahamas.com;
- Email the completed form to compliance@nib-bahamas.com or submit form at a local NIB office.
Processing time is 5 (five) business days. If collecting on behalf of an Employer, an authorization letter is required.
Brochures and Forms
- Self Employed Brochure
- Business Registration Form
- Letter of Good Standing
- Form B80 Lay-off Certificate / Termination of Service
- Contributions Forms