Community Interest Companies are a type of limited company designed for people who want to conduct a business or other activity for community benefit and not purely for the benefit of the members of the company. The CIC Regulator must approve applications to form a CIC and has a continuing monitoring and enforcement role. A company cannot become a CIC if it is, or intends to be, a political party or a political campaigning organisation (or a subsidiary of either). In addition, a CIC cannot be a charity.
If you would like any assistance or advice relating to the formation of a Community Interest Company please call us on 0207 554 2207 or email us at info@brightonformations.co.uk.