The General Data Protection Regulation – GDPR – entered into force in May 2018, affecting data collectors and processors all over the world. As an EU country, Cyprus is directly affected by this law, as companies here carry out most of their activities on the EU market.
Below, our Cyprus company formation agents explain how the GDPR affects companies and individuals in this country.
As mentioned above, data collectors and processors are required to comply with the GDPR in Cyprus. These imply:
This means that both local and foreign companies operating in Cyprus must comply with the General Data Protection Regulation.
There are a few steps which can help Cyprus companies become GDPR compliant. These are:
Our company formation consultants in Cyprus can advise local companies on how to comply with the GDPR. We also remind business owners that both traditional and online companies in Cyprus must comply with these rules.
It must be noted that companies in Cyprus are now required to draft simplified agreements related to the collection and processing of personal information. Also, clients must have the possibility to opt out of offering personal information to companies and also to request the deletion of their data from a company’s database.
Please feel free to contact our specialists in company formation in Cyprus if you want to know more about the GDPR or if you want to open a company in Cyprus.