| Norskyn Innovations Ltd | Manufacturing | 2025 |
| Nortech Engineering & Fabrication Ltd | Other services | 2010 |
| Nortech Marine Limited | Manufacturing | 1999 |
| Nortenergy Limited | Other services | 2009 |
| North Atlantic 3D Ltd | Professional & scientific | 2025 |
| North Atlantic Salmon Limited | Agriculture & fishing | 1985 |
| North Fish (Shetland) Limited | Professional & scientific | 2004 |
| North HOO Field Limited | Administrative & support | 2011 |
| North Isles Energy Ltd | Other services | 2018 |
| North Isles Marine Limited | Other services | 2008 |
| North Isles Rentals Ltd | Real estate | 2024 |
| North Yell Community Shop Limited | Wholesale & retail | 2023 |
| Northern Accounting Services Ltd | Professional & scientific | 2019 |
| Northern Aviation Solutions Ltd | Administrative & support | 2020 |
| Northern Delights Shetland Ltd | Manufacturing | 2020 |
| Northern Quest Ltd | Administrative & support | 2022 |
| Northern Training Solutions Ltd | Health & social care | 2024 |
| Northmavine Community Development Company | Other services | 2008 |
| Northmavine Development Company | Extraterritorial | 1993 |
| Northpoint Services Shetland Limited | Professional & scientific | 2025 |
| Nova Home Care Ltd | Health & social care | 2022 |
| NT Trawls Ltd | Agriculture & fishing | 2011 |
| O Doogan Services Ltd | Agriculture & fishing | 2025 |
| Oakclingra Limited | Extraterritorial | 2024 |
| Ocean Kinetics Limited | Manufacturing | 1997 |
| Odella Aesthetics Limited | Health & social care | 2025 |
| Olach Designs Limited | Manufacturing | 2025 |
| Ollaberry Hall Trading Company Limited | Hospitality | 2017 |
| Olnafirth Sea Farm Limited | Agriculture & fishing | 1988 |
| Packin Services Ltd | Administrative & support | 2021 |
| Paint-Tec Shetland Ltd | Construction | 2023 |
| Papal Pods Ltd | Hospitality | 2025 |
| Paparwark Limited | Manufacturing | 2021 |
| Pearson Support Services Ltd | Professional & scientific | 2023 |
| PEC Shetland Ltd | Extraterritorial | 2021 |
| Peerie Foxes Ltd | Health & social care | 2016 |
| Peters Handy Help Ltd | Construction | 2018 |
| Phaim Ltd | Real estate | 2014 |
| Physio Mechanics Ltd | Health & social care | 2017 |
| PJP Architects LLP | | 2007 |
| Plantiecrub Enterprises Ltd | Wholesale & retail | 2024 |
| PMJ Services (Shetland) Ltd | Agriculture & fishing | 2014 |
| Podiatry Shetland Ltd | Other services | 2015 |
| Poleson Marine Ltd | Manufacturing | 2016 |
| PQ 25 Limited | Real estate | 2025 |
| Prestonhill Developments Ltd | Financial services | 2017 |
| PRM Marine (Shetland) Ltd. | Agriculture & fishing | 2012 |
| Prometheus Games Ltd | Information & communication | 2026 |
| Pund Power Limited | Professional & scientific | 2015 |
| QA Fish Limited | Manufacturing | 2008 |
| Quendale Farm Limited | Agriculture & fishing | 2014 |
| Quoys Ltd | Other services | 2018 |
| R Christie Fishing Co. Ltd. | Agriculture & fishing | 2010 |
| R D Laurenson Ltd | Professional & scientific | 2018 |
| R G Jamieson Limited | Administrative & support | 2017 |
| R H Marine Services Ltd | Agriculture & fishing | 2025 |
| R I Marine Ltd | Other services | 2025 |
| R J Poleson Ltd | Agriculture & fishing | 2017 |
| R S Plant Contractor Ltd | Construction | 2011 |
| R-Mech Services Ltd | Wholesale & retail | 2025 |
| R. a. Tech Whalsay Ltd. | Agriculture & fishing | 2011 |
| R. Garrick Agri Services Ltd | Agriculture & fishing | 2018 |
| R.A.M Knitwear Ltd | Manufacturing | 2020 |
| R.Arthur Ltd | Other services | 2023 |
| R.Gordon Services Ltd | Professional & scientific | 2026 |
| RA Marine & Safety Services Ltd | Professional & scientific | 2022 |
| Rainbow Trails Limited | Information & communication | 2024 |
| Ramnaberg Enterprises Ltd | Energy | 2018 |
| Ramnaberg Fishing Co Ltd | Agriculture & fishing | 2011 |
| Ramper Properties Ltd | Real estate | 2024 |
| RB Plant Hire Ltd | Administrative & support | 2013 |
| RDR Fishing Limited | Agriculture & fishing | 2013 |
| Ready Move Estates Group Limited | Other services | 2023 |
| Rearo Laminates Limited | Manufacturing | 1991 |
| Rearo Supplies Limited | Wholesale & retail | 1977 |
| Rebecca Fishing Ltd | Agriculture & fishing | 2023 |
| Rediff UK Limited | Administrative & support | 2022 |
| Renewable Kinetics Ltd | Other services | 2014 |
| Rewind Detailing Ltd | Wholesale & retail | 2022 |
| RFT Research Limited | Information & communication | 2017 |
| RG Construction (Shetland) Limited | Construction | 2022 |
| RG Property Shetland Ltd | Real estate | 2024 |
| Riambel Limited | Professional & scientific | 2025 |
| Riddell and Holt Builders Ltd | Construction | 2019 |
| Ringesta Farm Limited | Agriculture & fishing | 2012 |
| RJP Serene Ltd | Agriculture & fishing | 2011 |
| RL Marine Ltd | Manufacturing | 2020 |
| RM Electrical Services (Shetland) Ltd | Manufacturing | 2020 |
| Robert Smith Shetland Limited | Agriculture & fishing | 2013 |
| Robinson & Morrison Limited | Wholesale & retail | 2004 |
| Rockmount Marine Ltd | Professional & scientific | 2022 |
| Roesound Accountancy Ltd | Professional & scientific | 2014 |
| RON Wynn Building Ltd | Construction | 2024 |
| Ronas JC Ltd | Professional & scientific | 2021 |
| Rootbiome Ltd | Wholesale & retail | 2026 |
| Ross Stewart Fishing Company Ltd | Agriculture & fishing | 2024 |
| Rowans Brae Ltd. | Hospitality | 2023 |
| Ruff and Tuff Welding Ltd | Professional & scientific | 2026 |
| Ryan Arthur Ltd | Agriculture & fishing | 2019 |
| S & R Duncan Building Contractors Limited | Construction | 2016 |