Which social premiums are applicable on BVI?
"Two social premiums are applicable: Social Security and National Health Insurance. Social Security (SS) Is a compulsory insurance plan to which employers, employees, self-employed and voluntary contributors contribute. Social Security is designed to protect insured persons from financial distress by providing partial income replacement when certain contingencies arise.
If an individual is residing in the in the BVI for less than 3 months annually, he/she is not subject to SS insurance. National Health Insurance (NHI) is a contributory health insurance plan that provides coverage for the legally resident population (the members or beneficiaries) against the cost of a stipulated package of health services for health promotion, prevention, and treatment in times of illness or injury.
If an individual is residing in the BVI for less than 3 months annually, he/she is not subject to NH insurance."