| Solheim Guest House Limited | Hospitality | 2023 |
| Solo Sun Limited | Agriculture & fishing | 2018 |
| Sonya Fishing Company Limited | Agriculture & fishing | 2014 |
| Soothend Ltd | Other services | 2013 |
| Souls Untapped Limited | Extraterritorial | 2025 |
| Sound Butchers Limited | Wholesale & retail | 2022 |
| South Brough Ltd | Agriculture & fishing | 2023 |
| Southspear Media & Surveys Ltd | Professional & scientific | 2017 |
| Sparl Services Ltd | Administrative & support | 2012 |
| Specialist Technical Solutions Ltd | Manufacturing | 2004 |
| Sphera Services Ltd | Mining & quarrying | 2025 |
| Spindrift Engineering Ltd | Extraterritorial | 2021 |
| Springpark Energy Limited | Extraterritorial | 2015 |
| SPS Shetland Ltd | Administrative & support | 2021 |
| SRM Waste Management Services Ltd | Other services | 2015 |
| SSL Pottinger Ltd | Real estate | 2023 |
| SSL Shetland Ltd | Financial services | 2024 |
| Ssqc Ltd | Professional & scientific | 2000 |
| ST Olaf's Hall LLP | | 2008 |
| Stakkadale Limited | Hospitality | 2024 |
| Staneyhill Brewery Limited | Manufacturing | 2011 |
| Star Rent-A-Car Limited | Administrative & support | 2002 |
| Star Vehicle Fuels Limited | Wholesale & retail | 2014 |
| Star Vehicle Maintenance Limited | Extraterritorial | 2015 |
| Star Vehicle Rental Limited | Extraterritorial | 2015 |
| Sterling Anchor Merchant Retail Limited | Wholesale & retail | 2026 |
| Streamberg Ltd | Agriculture & fishing | 2016 |
| Stronghold Security Shetland Ltd | Administrative & support | 2026 |
| Structured Visibility Systems Limited | Information & communication | 2026 |
| Studio 4 Hairdressing Ltd | Other services | 2014 |
| Studio 81 Design Ltd | Professional & scientific | 2021 |
| Subsea Inspection & Maintenance Services Ltd | Construction | 2023 |
| Sullom VOE Association Limited (the) | Professional & scientific | 1975 |
| Sun Bay Fish Ltd | Financial services | 2022 |
| Surface Repair Shetland Ltd | Other services | 2021 |
| Sutherland Building Contractors Ltd | Construction | 2022 |
| Sutherland Marine Services Ltd | Professional & scientific | 2025 |
| Suthra VOE Shellfish Limited | Agriculture & fishing | 2006 |
| Swis Marine & Fishing Ltd | Agriculture & fishing | 2020 |
| Sylvanus (Fishing) Ltd | Agriculture & fishing | 2022 |
| T Cromwell Painting & Decorating Ltd | Construction | 2022 |
| T P Gifford Plant & Haulage Ltd | Construction | 2013 |
| T SIM Electrical Ltd | Construction | 2024 |
| T Williamson Contractors Limited | Construction | 2016 |
| T.Johnson Contracts Ltd | Construction | 2026 |
| T.R. Marine Services Ltd | Other services | 2014 |
| T.R.Energy Ltd | Real estate | 2014 |
| Tait Electronics (Shetland) Ltd. | Manufacturing | 1996 |
| Taste of China Brae Ltd | Hospitality | 2025 |
| Tay-Cad Limited | Professional & scientific | 1992 |
| Taylor & Collie Limited | Professional & scientific | 2017 |
| Tetley & Anderson Ltd | Wholesale & retail | 2018 |
| TFT Electronics Ltd | Manufacturing | 2020 |
| Thats My Fleece Ltd | Manufacturing | 2013 |
| THE Aegir Consultancy Limited | Agriculture & fishing | 2014 |
| THE D.I.T.T. Construction Limited Employee Ownership Trustees Limited | Administrative & support | 2024 |
| THE Jasper Fishing Company Limited | Agriculture & fishing | 2011 |
| THE Nomadic Pizzeria Ltd | Hospitality | 2025 |
| THE Shetland Bookshop Ltd | Wholesale & retail | 1942 |
| THE Shetland Distillery Company Limited | Manufacturing | 2013 |
| THE Shetland Freezer and Food Centre Ltd. | Wholesale & retail | 1974 |
| THE Shetland Fudge Company Limited | Extraterritorial | 2016 |
| THE VOE Centre Limited | Hospitality | 2016 |
| Theo Irvine Joinery Ltd | Construction | 2025 |
| Thomas Ratter Ltd | Agriculture & fishing | 2016 |
| Thulecraft Limited | Manufacturing | 1974 |
| Thulium Property Limited | Arts & recreation | 1996 |
| Tick the List Limited | Extraterritorial | 2014 |
| TIM DIX Ltd | Agriculture & fishing | 2014 |
| Tingwall Livestock Limited | Agriculture & fishing | 2005 |
| TJL Fishing Ltd. | Agriculture & fishing | 2007 |
| TMS Shetland Ltd | Other services | 2023 |
| Toll Clock Investments Ltd | Real estate | 2019 |
| Tonner Mechanical Services Limited | Wholesale & retail | 2017 |
| Towns-End Garage Ltd | Wholesale & retail | 2017 |
| Tregonning and Co Limited | Professional & scientific | 2008 |
| Trench Bar & Nightclub Ltd | Hospitality | 2022 |
| Trident Aqua Services (UK) Limited | Agriculture & fishing | 2002 |
| Trink LLP | | 2026 |
| Truro Company Secretaries Ltd | Professional & scientific | 2023 |
| Truro Payroll Services Ltd | Professional & scientific | 2023 |
| Tsjd Holdings Limited | Wholesale & retail | 2024 |
| TSP Fishing Ltd | Agriculture & fishing | 2022 |
| Tulloch and Smith Holdings Ltd | Financial services | 2020 |
| Tulloch Developments Limited | Construction | 2004 |
| Turbo Shine Ltd | Wholesale & retail | 2019 |
| UK Scallops Limited | Agriculture & fishing | 2001 |
| Universal Stores Shetland Ltd | Wholesale & retail | 2025 |
| Unst Inshore Services Limited | Professional & scientific | 2003 |
| Unst Shellfish Ltd. | Agriculture & fishing | 2007 |
| Urban Viking Ltd | Wholesale & retail | 2023 |
| Uyea Ltd | Agriculture & fishing | 2018 |
| Vaelensi Shetland Ltd | Other services | 2013 |
| Vaellus Limited | Manufacturing | 2019 |
| Valdar Fishing Company Ltd | Agriculture & fishing | 2011 |
| Vallayre Marine Ltd | Other services | 2012 |
| Vatna CRM Limited | Construction | 2017 |
| Vega Technical Services (Shetland) Limited | Professional & scientific | 2013 |
| Veloform Limited | Manufacturing | 2021 |
| Venture Chiropractic Limited | Health & social care | 2012 |