Entering the EU market: why GDPR compliance is needed

Entering the EU market: why GDPR compliance is needed

4 legal points, which a business owner needs to remember starting the online business in the EU

If you plan to scale the EU market, it is very important to have a compliance with the requirements of the law. It is not just "recommended", but also necessary.

If your online resource does not meet the requirements of EU laws, you are not allowed to operate in Europe.

Europe has the strictest personal data protection law, the GDPR. This Regulation imposes strict requirements on any online resource. Companies that do not meet the requirements of the GDPR, risk being fined (up to 20 million euros or 4% of the company's turnover).

Not only regulatory authorities will control the GDPR compliance, but also:

  • Users - your potential clients;
  • Investors who do not plan to pay penalties for noncompliance;
  • Partners who want to see your reliability;
  • Service providers (no payment provider will connect an incompetent site to its system).

You also need to change the system of your resource in accordance with the requirements of the Regulations. The legal documents that provide you with legal activity in Europe are Privacy Notice, Terms of Use, Cookie Policy and others (depending on the business).

Privacy Notice (Privacy Policy) is the basis of GDPR compliance . You are obliged to tell the user what personal data (PD) you collect, how and for what purpose, what you will do with this information, where he can contact to learn about his rights, to refuse to collect PD, to change or delete his data... There is a good rule in the GDPR: if you can not explain why you need the data, you should not collect them.

Compliance means conforming to a rule, such as a specification, policy, standard or law

Wikipedia

So, the main thing:

Any inconsistency of GDPR makes your business dubious for the user and illegal for regulatory authorities In Europe. Compliance makes it attractive and legal.

The article was prepared especially for bepartner Maria Skakun - Senior Lawyer and CBDO at Avitar Law Office.

Comments

There is no data
avatar
To leave a comment, you need Sign up or Log in

Find project