Business development is a fundamental component of profit maximisation. Among the primary objectives of business development practices are to find clients, and establish strong relationships with current and potential new clients. Usually, clients and business associates may provide companies with their personal data, such as name, gender, address, email, banking details etc. However, are they aware of company’s collection, storing and processing procedures? Moreover, should private companies develop transparent data protection policies?
Personal data protection has a significant impact on professional, social, private and business life. Therefore, personal data protection is an essential matter that needs to be addressed carefully by companies. As a result, private companies should develop transparent procedures concerning the collection, use and processing of personal data.
Definition of Personal Data and Legal Framework in Cyprus:
According to ‘The Processing of Personal Data (Protection of the Individual) Law of 2001’ (138 (I) 2001), personal data includes any information relating to a natural living person. Some outstanding examples are the date of birth, passport number, mailing address, email, gender, full name, civil status etc. Many times, individuals need to provide their personal data to companies in order to buy a product or request a service. Usually, these details are stored for marketing purposes.
Collection of personal data by private entities:
The business activities that are affected by Law 138(I)2001 are any operation that involves the collection, storage, organisation, preservation, extraction, use, dissemination and destruction of data. Therefore, the provisions of this Law apply to the processing of personal data wholly or partly by automatic means, and to the processing otherwise than by automatic means of personal data that is or envisioned to be part of a filing.
According to section 5(1), a private entity cannot process any personal data without the consent of the individual who provides the company with his/her personal data. Furthermore, if a company shuts down, then it cannot give the customers’ details to other companies without having the necessary consent. A company can only collect, store and process personal data only if it has a legitimate reason for doing so.
Which rights do people have concerning their personal data collected, stored and processed by private companies?
- The right to be informed;
- The right of access;
- The right to object;
- The right to compensation;
- The right of temporary judicial protection;
How can we help you?
The legal team Michael Chambers & Co. LLC is able to advise you on all the matters related to personal data protection in Cyprus. In addition, our team of Cyprus lawyers may provide you with the necessary legal and administrative support on matters related to confidentiality agreements. If you wish to speak to one of our lawyers, in absolute confidence, then contact us: email@example.com.