Community Contribution Company is a BC corporation registered with BC Registries under the Business Corporations Act. A C3 allocates majority of its profits for a purpose beneficial to society like health, social, environmental, cultural, educational or other services.
Who can incorporate:
- Three or more individuals who are 18 years or up can incorporate a BC Community Contribution Company.
- Currently there is no citizenship or residency requirement for people who can be the directors, officers, and shareholders.
What is required to incorporate a BC Company:
- A name approval number from BC for the company (if it is to be a named corporation).
- One or more primary purposes of the company must be community purposes and these community purposes must be set out in the articles.
- A physical address or street address in the Province of British Columbia.
- Must have at least three directors.
- For incorporation, a minimum of one Incorporator and one contact person is also required. The same person can fill in all roles.
- For operational purposes and to fully comply, a minimum of one officer and one shareholders are also required.
What you get
After registering the BC Standard Company, you will receive the following as pdf documents by email:
Processing time: Same day
Is Community Contribution Company a non-profit corporation?
No. Community Contribution Company is a for-profit business and hence not exempted from taxes like non-profit organizations.
Can I convert a BC corporation or a BC Society to Community Contribution Company?
Yes, by filing Notice of Alteration it is possible to convert to a C3
How is a CC3 different from Benefit company?
- CCCs structure is a combination of for-profit and non-profit whereas a Benefit Company is entirely for-profit.
- CCCs must adopt a community purpose and use the majority of their assets for that purpose whereas the manner in which a benefit company operates is regulated.
- CCCs have restrictions on the amounts of dividends to their shareholders and on the transfer or distribution of their assets. Such regulations doesn’t apply for Benefit Companies.