Who is affected and why is compliance required?
The regulation affects you if:
1. Your company is based in the EU and processes personal data, regardless of exactly where the data is processed.
or
2. Your company is based outside the EU but processes Personal Data of individuals located within the EU.
It is extremely rare for a company not to process in any way Personal Data, either of its employees or of its customers, so practically the Regulation applies to almost all companies, private or public. The penalties provided range from simple warnings to exorbitant administrative fines, depending on the type of violation and the degree of compliance of the company.