A Community Interest Company ("CIC") is a limited liability company with the specific aim of providing benefit to a community. This type of company can be adopted by a range of social enterprises and ‘not-for-profit’ projects serving communities throughout the UK, which combine the pursuit of a social purpose with commercial activities.
A CIC can be either limited by shares of limited by guarantee. If limited by guarantee, then the CIC must be non-profit making.
In addition to the nomal registration process, the CIC application has to:
satisfy and continue to satisfy a community interest test;
adopt certain statutory clauses in its constitution (this includes a clause to lock in the assets to providing benefit to the community), and
deliver an annual community interest company report with its annual accounts.
We prepare and submit new CIC registrations (formations) as soon as we receive your instructions. These types of Company can not be formed electronically and can take around two weeks to be incorporated.
Our comprehensive company formation package includes the following:
|Community Interest Company||£200|