Local and foreign investors who want to open companies in Slovakia will need to comply with the new General Data Protection Regulation (GDPR) enabled by the European Parliament this spring. This requirement is applicable to all companies in Slovakia gathering and storing information on individuals residing within the European Union.
If you plan to open a business in this country and need advice on how to comply with the General Data Protection Regulation, our law firm in Slovakia can advise you.
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Data protection in Slovakia
It should be noted that not only the EU has implemented a new law on the protection of personal information, as Slovakia enabled its new improved legislation on the protection of sensitive personal data at the beginning of 2018. The new law was implemented in order to comply with the GDPR.
Our lawyers in Slovakia can offer more information on the national Personal Data Protection Act.
The main provisions of the GDPR
The GDPR appeared as an answer to the most recent development of the digital economy under which the number of online companies, including companies in Slovakia, has increased substantially. Most of these companies collect and keep the personal information of individuals entering their websites. This is why the GDPR provides for the following:
- – a more extensive and rigorous control of Slovak companies collecting personal information of EU citizens;
- – an improved control of the type of data collected to companies in Slovakia;
- – companies must request the consent of individuals whose data is collected in a clear and succinct way;
- – individuals must also be given the option of having their personal information removed from any database.
Not complying with the new GDPR will attract penalties for Slovak companies.
Investment is a possibility if you choose to obtain Slovakian citizenship. You should be aware that this involves following the standard procedure to obtain a permanent residence permit first. If you need help completing this application for a Slovak passport, get in touch with us! Our lawyers can explain the requirements.
How to become GDPR compliant in Slovakia
In order to become GDPR compliant, our attorneys in Slovakia recommend business owners to carefully review their personal data collection policies and simplify them as much as possible. Also, the appointment of a GDPR officer is mandatory for companies processing sensitive information.
For further advice on optimizing the data processing operations in compliance with the GDPR, we recommend you contact our law firm in Slovakia.