Comparison of Legal Structures

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IMPORTANT:  Before adopting a Legal Structure it is vital that you obtain professional advice.

 

Company Limited by Shares

Company Limited by Guarantee

Community Interest Company Limited by shares

Community Interest Company Limited by Guarantee

Scottish Charitable Incorporated Organisation

Unincorporated

Own legal identity

Yes

Yes

Yes

Yes

Yes

No

Limited liability for members/shareholders

Yes

Yes

Yes

Yes

Yes

 

Unlimited liability for board members

No

No

No

Yes

No

No

Constitution Documents

Memorandum and Articles of Association

Memorandum and Articles of Association

Memorandum and Articles of Association

Memorandum and Articles of Association

Memorandum and Articles of Association

 

 

Objectives

 

Any

 

Any

 

Community Interest

 

Community Interest

Charitable Objectives

 

Any

Charitable Status possible

Yes

Yes

No

No

Yes

Yes

Regulator

Companies House

Companies House

CIC Regulator

CIC Regulator

OSCR

None

Equity Financing

Yes

No

Yes

No

Yes

No

 

IMPORTANT:  Before adopting a legal structure it is vital that you obtain professional advice.