Expanding from Australia to Saudi Arabia: Unlocking Opportunities in Mining & Construction

Saudi Arabia’s exemplary economic transformation has created new horizons for global investors. Among the countries responding strongly to these opportunities is Australia, with trade between the two nations reaching $1.92 billion in 2023. 

Saudi exports to Australia accounted for $1.07 billion of this figure, supported by expanding ties in mining, energy, construction, and agriculture. For Australian firms, Saudi Arabia offers a chance to participate in one of the most ambitious national development strategies in the world. 

With an estimated $1.2 trillion pipeline of construction projects and $2.5 trillion in untapped mineral wealth, opportunities are multiplying. But to capture them, businesses must understand both the market dynamics and the process of business setup in Saudi Arabia. 

This article explores the emerging opportunities in mining and construction while breaking down the stages of Saudi Arabia business setup for Australian companies. 

BUSINESS SETUP IN SAUDI ARABIA – OPPORTUNITIES FOR AUSTRALIAN COMPANIES 

- The Construction Boom: A Magnet for Australian Investors 

Saudi Arabia’s giga projects are reshaping its landscape and attracting global interest. Projects like the Red Sea Project, Qiddiya, and Diriyah are part of a $1.2 trillion construction pipeline.

For Australian businesses specializing in infrastructure, smart cities, and sustainable construction, the demand is immense. Over 90 Australian firms are currently exploring expansion into Saudi Arabia to take part in these landmark projects.

In addition to investments, the sector has drawn Australian labor, with around 11,000 Australians working in the KSA, primarily in construction. 

Events such as the Big 5 Saudi 2025 further highlight this interest.

The first-ever Aussie Expo in 2024, hosted in Riyadh, also created a platform for collaboration. Organized by the Trademark Group of Companies shortly after opening its Riyadh office, the event gave Australian companies direct access to potential Saudi partners in infrastructure, healthcare, energy, and education. 

- Mining: A Natural Fit for Australian Expertise 

Saudi Arabia aims to become a global mining hub by 2030, targeting $32 billion in foreign investment. With its $2.5 trillion mineral reserves, the Kingdom is pushing forward with exploration, processing, and downstream industries. 

Australia, a recognized global leader in mining technology and sustainable extraction, is a natural partner. From automated mining systems to advanced refining techniques, Australian expertise is helping unlock Saudi Arabia’s mineral potential. 

The Australian Saudi Business Council has played a central role in enabling cooperation, facilitating joint ventures, and supporting companies entering the Saudi market. This effort has contributed to a $600 million increase in bilateral trade over the past four years. 

Momentum continues to build, with the inaugural Australia-Saudi Mining Forum set for 2025. This event will connect investors, developers, and suppliers from both nations, creating space for collaboration in rare mineral extraction, resource sustainability, and advanced refining. 

- Company Formation in the KSA: Three Phases Explained 

For Australian businesses ready to expand, understanding the practical steps of business incorporation in the KSA is essential. It follows a three-phase process. 

Phase 1: Establishment of a Legal Entity  

• Obtain a Ministry of Investment of Saudi Arabia (MISA) Investor License 

• Reserve your company name 

• Draft Articles of Association (AoA) 

• Secure Commercial Registration (CR) 

• Register with the Chamber of Commerce (CoC) 

Phase 2: Authorization of Operations and Workforce Creation  

• Obtain a company seal 

• Register with the Ministry of Labor 

• Register with the General Organization for Social Insurance (GOSI) 

• Obtain a national address 

• Apply for a General Manager (GM) visa 

• Register with the General Authority of Zakat and Tax (GAZT) and complete VAT registration 

Phase 3: Finalize Residency and Banking Setup  

• Activate the CoC account 

• Secure health insurance and complete medical checks 

• Issue the GM’s Iqama (residency permit) 

• Register on government portals such as Muqeem, Absher, Qiwa, and Mudad 

• Open a corporate bank account 

This structured process ensures that businesses transitioning from Australia to Saudi Arabia can become fully operational within six months. Working with providers offering business setup services in Saudi Arabia is highly recommended to navigate regulations efficiently and avoid delays. 

 - FAQs for Australian Investors 

1. What industries are most promising?
Mining and construction are clear frontrunners, but there are also opportunities in renewable energy, healthcare, food and beverages, and technology. 

2. What are the tax implications?
Corporate tax in Saudi Arabia stands at 20 percent for foreign-owned companies. There is no personal income tax, but businesses may be subject to VAT, Zakat, or excise taxes depending on their structure and sector. 

3. What are the legal requirements for company formation in the KSA?
The first step is securing a MISA license, followed by obtaining a commercial registration. Once the legal entity is in place, companies must register across multiple government platforms before becoming operational. 

- Why Now is the Right Time for Expansion? 

Saudi Arabia’s diversification drive is accelerating, and global firms that establish early are best positioned to capture long-term opportunities. For Australian businesses, the overlap of Saudi demand with Australian expertise in mining and construction creates a strategic fit. 

Events like Aussie Expo, the Australia-Saudi Mining Forum, and trade delegations are strengthening the bilateral relationship, while government-backed incentives are making company formation in the KSA more streamlined. 

With the right approach and the right partners in business setup services in Saudi Arabia, the transition can be smooth, profitable, and future-ready.