Community interest company (CIC) | Practical Law

Community interest company (CIC) | Practical Law

Community interest company (CIC)

Community interest company (CIC)

Practical Law UK Glossary 7-384-0835 (Approx. 3 pages)

Glossary

Community interest company (CIC)

A limited liability company designed for social enterprises which has the specific aim of providing benefit to a community and uses its income, assets and profits for the community it is formed to serve. It can be limited by shares or by guarantee but must satisfy a community interest test. For further information see Practice note, Community interest companies: CICs.