Meet Nirav Shah, a United Arab Emirates-based globally recognized expert in corporate structuring, international tax, and compliance. As a qualified Chartered Accountant and Director at FAME Advisory, he brings nearly three decades of diverse experience. Mr. Shah has worn many hats throughout his career—leading his own practice, managing a successful consulting firm, and working with a large family-owned corporate group. His professional journey began at KPMG as a Senior Manager, and later evolved into founding his own advisory firm, which is a testament to his determination, hard work, and unrelenting pursuit of growth.
The Inspiration for International Tax and Corporate Structuring
Nirav Shah’s interest in international tax and corporate structuring was ignited early in his career. After exploring audit and tax, pursuing CFA, and trying his hand at equity and bond analysis and investment advisory, he found his passion for tax law interpretation and application. This led him to join KPMG’s tax department in India, where he enhanced his expertise in the intricacies of International tax and Corporate structuring, building the path for his remarkable professional journey.
Balancing Technical Expertise with Client-centric Services
Mr. Shah emphasizes the significance of harmonizing technical expertise with a good understanding of clients’ needs. At FAME Advisory, he ensures that technical solutions are designed to address clients’ personal goals and preferences while maintaining rigorous compliance standards. By connecting with the client and prioritizing their goals, Mr. Shah focuses on delivering bespoke solutions, combining technical precision with a human touch.
Guiding Principles for Cross-border Advisory Work
Mr. Shah’s approach to complex cross-border advisory work is guided by a client-centric philosophy. At FAME Advisory, the client’s needs come first. The team assists them with developing clear objectives for each aspect and endeavors to consistently deliver value addition and meet the requirements of the client, driven by a deep understanding of their specific situation.
The Major Influence on Nirav Shah’s Journey
Mr. Shah credits several key individuals for shaping his success and personal growth. His parents were instrumental in instilling core values that have remained the foundation of his character and work ethic. His mentor, Mr. Pinakin Desai, played a pivotal role in guiding him to pursue his profession with the right principles and integrity. He also draws inspiration from Mr. Pankaj Mehta, whose vision-driven approach to achieving goals left a lasting impression on him. Mr. Shah also acknowledges the valuable lessons learned from clients and friends throughout the journey.
Leadership Lessons in Navigating Regulatory Complexity
Mr. Shah’s experiences have taught him that staying updated with regulatory changes across multiple Jurisdictions is crucial in navigating the ever-evolving landscape. Whether it’s attending seminars and webinars, keeping up with global updates, or networking with peers to exchange insights, Mr. Shah ensures that both he and his team at FAME Advisory are constantly learning new things. This commitment enables them to remain innovative, agile, and equipped to deliver practical, forward-thinking solutions that align with their clients’ evolving needs.
Maintaining Agility and Compliance in a High-Trust Domain
Mr. Shah ensures organizational agility and rigorous compliance through strong internal processes, unwavering discipline, and a focus on continuous improvements. He understands that in a high-stakes advisory landscape, reputation is only as good as the last assignment—and that even one misstep can jeopardize years of trust and credibility.
To mitigate this, he strongly emphasizes on attention to detail, precision in execution, and proactive risk management, ensuring that every client engagement upholds the highest standards of professionalism and integrity.
Shifts in the International Tax Planning and Compliance
Over the last decade, Mr. Shah has witnessed significant shifts in International tax planning and compliance. The focus has transitioned from solely reading and interpreting tax treaties and treaty shopping for benefits to emphasizing substance rules, commercial rationale, and compliance. Today, the focus is to create structure with proper substance and ensure adherence to regulations, with tax optimization being a secondary consideration. This marks a notable shift from the earlier focus on mere cost reductions.
Geopolitics and Corporate Structuring: Navigating the Impact
Global geopolitical shifts have a direct and significant impact on business models, often reshaping how businesses operate. Trade treaties, tariffs, and international regulations influence decisions around where to establish operations to maximize cost-efficiency for end consumers. These factors guide the selection of jurisdictions for setting up entities and structuring supply chains. Further, local subsidies and incentives all play a crucial role in determining the optimal setup for cost efficiency and competitiveness, ultimately shaping corporate decisions.
Avoiding the Common Pitfalls in the Multi-Jurisdictional Structures
Mr. Shah identifies common mistakes in establishing multi-jurisdictional structures. These include selecting vehicles based solely on commercial requirements, replicating peer models without evolution, and lacking a clearly defined long-term vision or goal. Often, entities are set up reactively—as and when needed—sometimes even in individual shareholders’ names, simply because it’s the easiest route. To avoid such pitfalls and the costly corrections they may require later, Mr. Shah advocates for developing guiding principles rooted in the organization’s overarching vision and strategic goals. This ensures that each structural decision aligns with a well-thought-out plan for sustainable growth.
Navigating the Evolving Global Tax Landscape
Mr. Shah believes the global tax landscape will be increasingly complex with the advent of technology, decentralization, and global minimum tax frameworks. As technology thrives, regulations will need to adapt, and advisors must leverage technologies to stay ahead, ensuring compliance and effective information management. Embracing tax technology will be crucial for navigating these changes and delivering tailored solutions to clients.
Emerging Trends in Family Asset Structuring for HNIs
Mr. Shah observes a significant shift in family asset structuring, like HNIs in the Middle East and Asia, marked by the increasing adoption of sophisticated tools like foundations and succession planning vehicles, increased involvement of the next generation in asset evaluation and structure, and rising acceptance of insurance as one of the tools, which was not used at all earlier in the region.
The Future Outlook of FAME Advisory
In the future, FAME Advisory aims to become the go-to tax and compliance services provider, distinguished by its consistent delivery of value-added solutions. Over the next decade, the firm will focus on meeting clients’ evolving needs, objectives, and risk management requirements, cementing its reputation as a trusted partner in the industry.
