Definitions 
Real Estate Investment Trusts (REITs) are quoted property companies that own and manage income-producing property, either commercial or residential.
REIT regimes exists (under various names) in various countries. Their purpose is generally to bring the same benefits of directly owning real estate to smaller investors.
REITs and Advantageous Tax Regimes
In most cases REITs benefit from a advantageous tax regime. Often REITs do not need to pay cooperation tax on the profits they make. This benefits the owners of the company by avoiding double taxation as described here.
Qualifying for REIT status
In order to qualify for REIT status, companies must generally pay out a relatively high percentage of company profits as dividends. They will also often be required to generate a significant proportion of earnings from lettings, rather than development or other exploitation of real estate.
