Community Interest Companies

= UK legal form for nonprofit activities

URL = http://www.cicregulator.gov.uk/

Description

"Community Interest Companies (CICS) are limited companies, with special additional features, created for the use of people who want to conduct a business or other activity for community benefit, and not purely for private advantage. This is achieved by a "community interest test" and "asset lock", which ensure that the CIC is established for community purposes and the assets and profits are dedicated to these purposes. Registration of a company as a CIC has to be approved by the Regulator who also has a continuing monitoring and enforcement role."
(http://www.cicregulator.gov.uk/)

More Information

• intro video via https://www.youtube.com/watch?v=8n-orUfrots