In India, an Alternative Investment Fund (AIF) can take the form of a Trust, Company, or LLP, gathering investments from both Indian and foreign sources. AIFs, not bound by SEBI's mutual funds regulations, have three registration options: Category I (for startups, SMEs), Category II (private equity, real estate), or Category III (hedge funds). Trust structures are favored due to their flexibility and reduced disclosure obligations. SEBI now requires stamp duty on AIF unit issuance and transfers since July 1, 2020, necessitating compliance for AIF registration. Read Here... https://structuredbiiz.com/sebi-registered-alternative-investment-funds/