Community Interest Companies

This is a new type of company established to trade for the community good. there are two main things that distinguish a CIC from a normal company:

1. The Asset lock: The assets and profits must be permanently retained within the company and used only for the community benefit or transferred to another company or organisation with an asset lock.

2. A Community Interest Statement must be prepared, certifying that the company is formed to serve the community rather than for profit. It also has to describe the activities the company intends to engage in to benefit the community. This may not include any political party or activities.

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:

• Name clearance
• Certificate of Incorporation
• Specialised objects clause
• Five bound copies of Memorandum & Articles of Association
• Statutory Registers
• Change of Member Documentation
• First Board Minutes

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