The SUTE scheme provides newly incorporated companies in Singapore with tax exemptions on their first S$200,000 of chargeable income. Eligibility criteria include being incorporated in Singapore, having tax residency in Singapore, and having no more than 20 shareholders throughout the basis period who are all individuals, or with at least one individual shareholder holding at least 10% of the issued ordinary shares. Investment holding companies and companies undertaking property development for sale or investment are excluded.