Legal Structure
CIC Ltd by Guarantee
A Community Interest Company limited by guarantee. Members guarantee a nominal amount (usually £1) rather than holding shares. Common for non-profit social enterprises.
Key Characteristics
- No share capital — members guarantee nominal amount
- Asset lock
- CIC36 community interest statement required
- Cannot distribute profits to members
Advantages
- Strong social enterprise identity
- Simple governance
- Asset lock protects mission
- Good for grant funding
Limitations
- Cannot raise equity investment
- No Gift Aid eligibility
- Less attractive to commercial investors
- CIC Regulator reporting
Regulator: CIC Regulator + Companies House
Take the Structure Assessment