Community Interest Companies (CICs)
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What is a CIC?
Community Interest Companies (CICs) are a special type of limited company which exists to benefit the community rather than private shareholders.
The CIC has to provide a ‘Community Interest Statement’ which explains what the business plans to do. It also has to create an ‘Asset Lock’, which states that the company’s assets will only be used for its social objectives and setting limits to the money it can pay shareholders. The company then has to be approved by the Community Interest Company Regulator who also has a continuing monitoring and enforcement role.
The specialist services we can offer CICs include the following:
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