What is a community interest company (CIC)?
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”. Registration of a company as a CIC has to be approved by the Regulator who also has a continuing monitoring and enforcement role. (See www.cicregulator.gov.uk for more information).
