Under Hong Kong Inland Revenue Ordinance and Companies Ordinance Cap.622 ; 

Hong Kong companies must preserve the records, or the accounts and returns, for 7 years after the end of the financial year to which the last entry made or matter recorded in the records, or the accounts and returns, relates.

If the director of a company who fails to take all reasonable steps to secure compliance with subsection (2) commits an offence and is liable to a fine of $300,000.