Document Storage Guide: How to Keep Business and Household Papers Safe

Whether it's household receipts and contracts or company ledgers and records, many documents must be kept for a statutory or practical period. How do you store them securely without taking over your space?

Know the Retention Periods First

• Company accounts and business records: Hong Kong's Inland Revenue Ordinance generally requires at least 7 years
• Property transactions, tenancy agreements, insurance policies: keep for at least 6 years after the transaction or coverage ends
• Payslips and bank statements: generally 2 to 7 years depending on purpose
• Permanent documents such as birth certificates and academic certificates: keep originals forever, with copies as backup

Sorting and Cataloguing Are Key

Stand documents upright in folders sorted by year and category. Label each storage box with a list of its contents and the year it can be destroyed. Future lookups won't mean emptying box after box.

Protect Against Damp and Pests

Paper hates humidity and sunlight. Keep boxes away from walls, windows, bathrooms and kitchens. Add desiccant packs inside, and avoid leaving staples and paper clips on documents long-term (they rust and stain). Seal important documents in zip-lock bags for extra protection.

Hand Business Archives to Professional Storage

Office space is expensive — using it for old files doesn't add up. Send closed-year document boxes to door-to-door valet storage and recall them only when you need to check something: space-saving and compliant.

Review Regularly

Set aside time once a year to review your document boxes. Shred anything past its retention period to keep personal and company information from leaking.