Are all start-up companies eligible for Start Up Tax Exemption (SUTE) even if all shareholders are foreigners?

Yes, you are eligible for Start Up Tax Exemption (SUTE) provided the following conditions are fulfilled.

The company must not have more than 20 shareholders throughout the basis period for that Year of Assessment where:

• all the shareholders are individuals beneficially and directly holding the shares in their own names; or
• at least one shareholder is an individual beneficially and directly holding at least 10% of the issued ordinary shares of the company
• the company is not a property and investment holding company