Hong Kong companies must obtain a new business registration certificate and submit an annual report to the Hong Kong government after the first anniversary of registration. Because the business registration certificate is only valid for one year, it must be obtained from the government every year. If the annual report and business registration certificate are not submitted to the government for one month, the government will be fined. However, Hong Kong companies also do accounting and tax returns once a year and issue audit reports. Except that the longest accounting period of the first year can be 18 months (some companies only have 16 months), the closing date of the first year can be determined according to the company's registration date, and the closing date is after the first year. The annual returns of Hong Kong companies meet the requirements of the Hong Kong Company Law.