What is the National Insurance Scheme (NIS)?
The National Insurance Scheme (NIS) is Guyana's social security system. It provides benefits to workers and their families in cases of old age, sickness, maternity, employment injury, invalidity, and death. Every employer in Guyana must register with NIS and make contributions on behalf of their employees.
Who needs to register?
All employers operating in Guyana must register with NIS within 14 days of hiring their first employee. This includes sole traders, partnerships, limited companies, and non-profit organizations. Employees earning above the minimum threshold must also be registered individually.
Required documents
To register your business with NIS, you'll need: your business registration certificate, TIN certificate, a completed NIS employer registration form, valid ID for the business owner/director, and employee details including names, NIS numbers (if previously registered), and dates of employment.
Contribution rates (2026)
Employers contribute 7.2% of an employee's insurable earnings, while employees contribute 5.6%. The total contribution is 12.8% of insurable earnings up to the ceiling. Contributions are due monthly and must be remitted to NIS by the 15th of the following month.
Consequences of non-compliance
Failure to register or make NIS contributions can result in penalties, interest charges, and legal action. Non-compliant businesses may be unable to obtain NIS compliance certificates, which are required for government contracts, business license renewals, and GRA compliance.
How BizHub GY simplifies NIS registration
Instead of navigating NIS forms and queues yourself, BizHub GY handles the entire process. Our agents prepare the registration forms, liaise with NIS, and ensure your compliance certificates are filed on time. Included in Standard and Pro plans.