Self Employed

Self Employed

A self-employed contributor is someone who is not in the employment of a registered employer, but is otherwise gainfully employed.

All self-employed persons are required by law to be registered with the NIS and to pay contributions. The contributions rate for a self-employed person is 11% of gross earnings. Self-employed persons over the age of 60 are required to pay 1% of gross earnings for employment injury benefit. The maximum earnings on which contributions are payable is $5,000.00 per month

Self-employed persons must satisfy the following requirements:

  • Be ordinarily resident in Grenada
  • Be ordinarily resident in Grenada
  • Not be in the employment of another person

To register as a self-employed person, visit any NIS office with the following documents:

  • Certified birth certificate
  • A valid picture ID
  • Certified marriage certificate (if applicable)

FAQs

Self-employed persons can qualify for all the benefits offered by the NIS.

Contributors are entitled to claim as many times as they meet the qualifying conditions for a benefit.

The normal age is 16-60. However all employed persons regardless of age must register (this includes temporary and part-time workers and students with summer or part-time jobs). The contribution rate for person below or above the normal age is 1%. It is paid by the employer only.

That is the maximum salary on which NIS contributions must be deducted. Currently it is $5,000 for monthly paid workers. This includes:

  • Overtime payment;
  • Cost of living bonus;
  • Commission on sales or similar payments;
  • Gratuities
  • Payments for night or shift-work
  • Production bonus;
  • Service charge
  • Holiday pay etc.

The employee must present  the following documents:

  • An original certified birth certificate
  • A valid picture ID
  • An original certified marriage certificate (if applicable)

Under the CARICOM Reciprocal Agreement on Social Security, if a person works in more than one member country and paid sufficient contributions in each country to qualify for a pension then, each country is required to pay him a separate pension based on its local Regulations. However, if he did not pay sufficient contributions to qualify for a pension in each country, the contributions paid in each member country is combined to assist him/her in meeting the qualifying conditions for such a pension. If upon combining his contributions he qualifies for such a pension, each member country where he worked is required to pay a proportional amount of the pension payable. Grenada is a party to the CARICOM Reciprocal Agreement on Social Security,

 Grenada also has a Reciprocal arrangement with the Canadian Social Security.