Community Interest Company (CIC) Regulator
Community Interest Companies (CICs) are designed for social enterprises that want to use their profits and assets for the public good. CICs are easy to set up, with all the flexibility and certainty of the company form, but with some special features to ensure they are working for the benefit of the community. A major benefit of becoming a CIC is the fundamental feature of the ‘asset lock’. This term covers all the provisions designed to ensure that the assets and profits of a CIC are retained by the CIC to be used solely to serve the community, or can be transferred to another CIC or charity.