Does GDPR regulation apply to my business?

If you collect, hold or use personal data of EU residents (customers, employees or vendors etc) GDPR is applicable to your business.

Consider the following use cases and try answering the question – ‘does the GDPR apply to me?’:

1. My company is located in the EU and we collect, store and process the personal information of EU residents(customers,employee etc). Personal Information is something using which you can identify the person. This includes name, address, phone number, credit card number etc.
2. More specific use case: I have a SME that use and collect the personal data of employees and customers but my employee strength is less than 10. Please note that size do not matter here.
3. My company is located outside Europe and we collect, store and process the personal data of EU residents.

If your answer to all of the above use cases is ‘Yes’ then your understanding is correct.