| Maryfield House Limited | Hospitality | 2017 |
| Mcintosh Marine Limited | Agriculture & fishing | 2023 |
| MH Apps Ltd | Information & communication | 2010 |
| Michael Inkster and Co Limited | Real estate | 2017 |
| ML Reports Ltd | Health & social care | 2025 |
| Moving on Employment Project Limited | Administrative & support | 2009 |
| Mtek Services Ltd | Agriculture & fishing | 2023 |
| NAT (Shetland) Limited | Hospitality | 2017 |
| NB Communication Ltd | Information & communication | 2005 |
| Neshion Ltd | Energy | 2022 |
| NGR Accountancy Limited | Professional & scientific | 2018 |
| NGR Holdings Ltd | Financial services | 2025 |
| NGR Property Ltd | Real estate | 2024 |
| NGR Retail Ltd | Wholesale & retail | 2025 |
| Nor-Aero Limited | Energy | 2014 |
| Nordic Joiners Ltd | Manufacturing | 2018 |
| Nordri Ltd | Manufacturing | 2012 |
| Nordri Technical Limited | Professional & scientific | 2022 |
| Norn Limited | Manufacturing | 2022 |
| Northwards Ltd. | Transport & logistics | 2001 |
| O.T.H. Sales Limited | Construction | 2016 |
| Ocean Farm Services Ltd | Transport & logistics | 2018 |
| Oceanway Fishing Company Limited | Agriculture & fishing | 2014 |
| Owen Engineering Services Ltd | Professional & scientific | 2019 |
| Peerie Shop Ltd | Wholesale & retail | 2014 |
| Pelagia Shetland Limited | Manufacturing | 1985 |
| Polsim Properties Ltd | Real estate | 2025 |
| Polson Fishing Company Limited | Agriculture & fishing | 2026 |
| Prevail Fishing Company Ltd | Agriculture & fishing | 2015 |
| Quiet Waters Fishing Company Limited | Agriculture & fishing | 2007 |
| R & G Scaffolding L.P. | | 2019 |
| R E Watt Ltd | Wholesale & retail | 2016 |
| R Robertson & SON Ltd | Wholesale & retail | 2014 |
| Radiance Fishing Company Ltd | Agriculture & fishing | 2019 |
| Radiant Star Fishing Company Limited | Agriculture & fishing | 2014 |
| RCG Fishing Ltd | Agriculture & fishing | 2023 |
| Rendall's Scaffolding Ltd | Construction | 2026 |
| Research Fishing Co. Limited | Agriculture & fishing | 1987 |
| Resilient Fishing (Whalsay) Ltd | Agriculture & fishing | 2011 |
| Richard Gibson Architects Ltd | Professional & scientific | 2011 |
| Robertson & Peterson Limited | Construction | 2022 |
| Samon Limited | Hospitality | 2025 |
| Sandison Electrical Ltd | Manufacturing | 2025 |
| Sandwick Baking Company Limited | Manufacturing | 2000 |
| SC Homes Shetland Ltd | Construction | 2023 |
| Serene Fishing Company Limited | Agriculture & fishing | 1987 |
| SG Welding Limited | Manufacturing | 2024 |
| Sharon Adelle Powell Limited | Administrative & support | 2014 |
| Sharyn Louise Fishing Company Ltd | Agriculture & fishing | 2013 |
| Shetland Accommodation Ltd | Real estate | 2018 |
| Shetland Builders Limited | Manufacturing | 2025 |
| Shetland Car Hire Limited | Transport & logistics | 2007 |
| Shetland Care Attendant Scheme Ltd | Health & social care | 1997 |
| Shetland Cleaning Crew Ltd | Administrative & support | 2018 |
| Shetland Composites Limited | Manufacturing | 2010 |
| Shetland Fish Limited | Wholesale & retail | 2018 |
| Shetland Fishermen's Trust | Administrative & support | 2012 |
| Shetland Global Seafood Ltd | Manufacturing | 2022 |
| Shetland Harbour Apartments Limited | Hospitality | 2015 |
| Shetland Heatwise | Construction | 1992 |
| Shetland Islands Citizens Advice Bureau | Information & communication | 1997 |
| Shetland Janitorial Supplies Limited | Wholesale & retail | 2004 |
| Shetland Maritime Limited | Professional & scientific | 2002 |
| Shetland Mid-Market Homes LLP | | 2025 |
| Shetland Property Lets Ltd | Other services | 2013 |
| Shetland Shellfish Management Organisation | Other services | 1998 |
| Shetland Surveyors Limited | Professional & scientific | 2015 |
| Shetland Tea Ltd | Wholesale & retail | 2025 |
| Shetland Turf Accountants Limited | Arts & recreation | 1993 |
| Silver Chord Charters Ltd | Transport & logistics | 2022 |
| Simpson Fish Limited | Wholesale & retail | 2016 |
| Sinclair's Taxis Ltd | Transport & logistics | 2007 |
| Skalberg Shetland Limited | Administrative & support | 2018 |
| Sondra Fishing Company Ltd | Agriculture & fishing | 2020 |
| Sophie Dawn's Limited | Hospitality | 2012 |
| Sound Builders Ltd | Construction | 2017 |
| Sound Community Association | Other services | 1995 |
| Sound Service Station Ltd | Financial services | 2022 |
| Spiritual Assembly of the Baha'Is of Lerwick | Other services | 1979 |
| SQC Plant Ltd | Other services | 2015 |
| Stems (Shetland) Limited | Wholesale & retail | 2015 |
| Steva Dental Ltd | Administrative & support | 2016 |
| Suite Dreams Shetland Ltd | Wholesale & retail | 2026 |
| Sumburgh Company Limited | Real estate | 1924 |
| SURV5 Limited | Professional & scientific | 2020 |
| Symbister Estate Limited | Real estate | 2004 |
| THE Arcturus Fishing Company Limited | Agriculture & fishing | 2000 |
| THE Douglas Arms (Shetland) Limited | Hospitality | 2026 |
| THE Mission (the Creativity and Wellness Centre) Limited | Real estate | 2021 |
| THE New Harbour Cafe Ltd | Hospitality | 2019 |
| THE Shetland Soap Company Limited | Extraterritorial | 2003 |
| THE Stewarts RUM Company Limited | Extraterritorial | 2022 |
| THE Zetland Bakery Ltd | Hospitality | 2024 |
| Thompson Facilities Management Limited | Administrative & support | 2015 |
| Thule Bar (Lerwick) Limited | Hospitality | 1993 |
| TN & HC Property Leasing Ltd | Extraterritorial | 1989 |
| Tranquility Fishing Company Limited | Agriculture & fishing | 2008 |
| Travel With Laurie Limited | Information & communication | 2024 |
| TRI North Property Limited | Real estate | 2025 |
| Trillian III Ltd | Information & communication | 2023 |