community interest company

A community interest company is a company that pursues interests beneficial to the community. The company name must contain the words 'Community Interest Company' or 'CIC'

Community Interest Companies are prohibited from issuing dividends, except to investors who hold investor shares. Charities cannot be CICs, however they may have subsidiaries that are.

Usage: The Community Interest Company was formed to administer social leisure services in the community.

Related Words: company; limited liability; private company; public company; shares; share capital; partnership; LLP; limited liability partnership.