Instead of setting up a 'standard' type of public or private company, you could consider setting up a:
These types of company are subject to company law in the same way as standard public or private companies - see the pages in this guide on starting a private company and starting a public limited company.
However, they must meet additional criteria in order to qualify as the company type concerned.
Note also that you can register one of these types of company via a paper application form only - ie you cannot register electronically.
A CIC is a type of limited company designed for people who want to run a business for the benefit of the community - ie not purely for the benefit of the company's members and shareholders.
A CIC may be a public or private company limited by:
A company cannot become a CIC if it is:
If you intend to set up a CIC, you must register it with Companies House. You can register either via a paper application form or electronically using a third party with access to the necessary software - eg an incorporation agent, software provider or solicitor.
However, it's the CIC Regulator that decides whether or not your company is eligible to become a CIC.
To be accepted, you must pass a 'community interest test' and 'asset lock'. These ensure that the:
CICs are often seen as a type of social enterprises and may take the form of:
See our guide on how to set up a social enterprise.
A RTM company is run by leaseholders who have taken on the landlord's management functions, eg repairs and maintenance of the premises.
For a company to be a RTM company in relation to those premises:
An SE is a trans-European company that may be created on registration in any European Economic Area state.
If you wish to create an SE in the UK, you must register it with Companies House.
An SE can be formed:
If registered in the UK, an SE:
An SE must have share capital and shareholders whose liability is limited in a similar manner to that of a PLC.
An SE may denominate its share capital in any currency provided that at least £50,000 is denominated in sterling or €57,100 is denominated in euros.
It must also have a minimum amount of subscribed share capital equivalent to €120,000.
As a PLC, an SE registered in the UK must submit an annual return to, and file company accounts with, Companies House.
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