How To Set Up a Gold Trading Business in Saudi Arabia

Saudi Arabia plays a central role in the regional gold market. It accounts for nearly a third of all gold jewellery sales in the Middle East, with Riyadh and Jeddah leading in both transaction volume and value. Steady demand, a growing base of affluent buyers, and strong trade links make it a reliable market for bullion traders, retailers and wholesalers. Starting a gold or jewellery business here is a clear-cut process once you understand the rules. Each step follows official procedures, and there’s little room for shortcuts. Whether you’re opening a shop, setting up a wholesale office or planning to import and re-export finished pieces, you’ll need to meet strict standards on licensing, security, customs and compliance.

This article looks at the license options, regulatory requirements and practical considerations you need to launch and grow a gold trading venture in The Kingdom.

Choose a business structure and secure MISA licencing

Start by choosing your business structure. Most gold traders and jewellery businesses register as limited liability companies, which suits foreign ownership and works for retail, wholesale and trade activity. To proceed, you’ll need an investment licence from MISA. This must be in place before any further applications can move forward.

You’ll also need to choose a business name that meets local rules and confirm that your proposed activities fall under the correct licensing category. Once MISA gives the green light, prepare your supporting documents. These include ID, shareholding details, company constitution and capital proof, all certified and legalised. If your paperwork is ready, this step can be completed fairly quickly. Once the licence is issued, you can apply for your commercial registration and industry-specific approvals.

Commercial registration and sector-specific licences

After securing your MISA licence, the next step is to register the company with the Ministry of Commerce. This creates your legal entity and issues your commercial registration number, which is needed for all future dealings.

You’ll then apply for a jewellery trading licence that reflects your business activity. Retailers and wholesalers must have this in place before trading. If your plans include a shop or trading unit, local municipality approval is also required. This covers your lease, location, and compliance with basic safety and zoning rules.

Retail operations often choose visible, high-traffic areas. Wholesale and trading businesses may base themselves in industrial districts closer to freight services. These location choices affect timelines and the type of permits you’ll need before launch.

Meet facility and security requirements

Before trading can begin, your site must meet Ministry of Interior security rules. This applies whether you’re in retail or wholesale.

You’ll need a full CCTV system covering entrances, counters, stock rooms and any area where cash is handled. Video must be stored for a set period and available for review. A working alarm and a secure, anchored safe are also mandatory.

You’ll submit your security setup and installation reports for approval. In most cases, this is followed by a site visit. You can’t open until you’ve got this clearance.

Comply with labour laws and Saudisation rules

Once your site is approved and licensing is complete, the next step is registering your business with the Ministry of Human Resources and GOSI. This allows you to hire staff and apply for work permits. A general manager must be appointed and registered before you can begin trading.

Saudisation rules apply from day one. Most gold and jewellery firms must employ at least one Saudi national for every five employees. If you operate across several sites, each branch must meet the quota individually, so it’s important to plan your hiring accordingly.

Tax and customs rules

If your turnover reaches SAR 375,000 or more, you must register for VAT with ZATCA. This applies to both product sales and raw material imports. You’ll need to file returns and maintain digital records that meet ZATCA’s format. Regular audits are common, so staying organised is key.

If you plan to import gold, jewellery components or production equipment, register with Saudi Customs via the FASAH platform. All goods must be declared and import details must match supporting paperwork.

Both tax and customs requirements depend on your trade licence and shipment volume. Early checks can help flag any exemptions or simplified options. Errors in paperwork or values can cause shipment delays or penalties.

Compliance and ongoing operations

The sector is closely monitored, with regular checks made on sourcing, sales records and onsite security. Most operators work with local consultants who handle submissions and renewals. It cuts down on admin and reduces the chance of missing a deadline.

Once trading begins, the focus shifts from setup to consistency. Your systems, records and staffing must reflect what was approved during licensing and remain inspection-ready at all times.