This brochure outlines operating a REIT from Guernsey as a centre for alternative investments. A REIT owns commercial and/or residential properties on behalf of the shareholders, which must be listed on a recognised stock exchange, such as the London Stock Exchange (LSE) or The International Stock Exchange (TISE), based in Guernsey. A REIT allows investors easier access to property than direct investment, diversification of assets, and the benefits of a professional manager. Guernsey offers an excellent base to operate a REIT, with the local industry pioneering cell companies, and a robust regulatory environment, and the benefit of Guernsey-headquartered TISE.