Community Interest Companies can now be registered online, a long awaited development.
- significantly reduce incorporation times,
- offer online convenience; and
- be available 24-hours a day.
It will also allow Companies House to process and place community interest companies on the public record far more efficiently than paper documents. The online process will provide benefits such as security, speed and environmental savings. For those wanting to set up a CIC it will:
- Reduce incorporation costs for prospective CICs to £27
- Allow payment by card or PayPal; and
- Confirm incorporation – within 2 working days, in the majority of cases.
There are over 15,000 CICs registered at Companies House and increasing by well over 2,500 a year this is a welcome development, as CICs are an excellent way to set up a social enterprise.
If you would like to know more about social enterprise or community interest companies then contact us at 01922 619840.