I received one or two queries on this recently so I thought it's good to make this as sticky post for future reference. Real Estate Investment Trust (Reits) is not technically structured as a pure company that owns businesses or assets. They are being structured as an investment holding entity which requires a Trust Deed between the Trustee and the Reit manager. In order to own an asset locally or overseas, they need to set up a Special Purpose Vehicle (SPV) which acts in the context of a company that can buy or sell businesses or assets and legally had to file for their own respective corporate tax return. If the Reits own an asset overseas, the situation is made more complex because it has to set up a second layer SPV in that particular country to make the transaction and legally file for that country tax return. The ......