Data protection standards are becoming increasingly high, and companies face the more and more complex task to evaluate whether their data processing activities are legally compliant, especially in an international context. Data—by their very nature—can easily cross borders and play a key role in global digital economy. Over the last couple of years, data have become a valuable asset and are even called the currency of the future.1 The processing of personal data takes place in various spheres of economic and social activity, and the progress in information technology makes the processing and exchange of such data considerably easier.2 In this context, the European Union (EU) adopted the General Data Protection Regulation (GDPR) to further harmonise the rules for data protection within the EU Member States and to raise the level of privacy for the affected individuals. The GDPR will enter into force on 25 May 2018. Due to its wide, transnational scope of application, it will also affect numerous companies located outside the EU. Entities should evaluate whether they fall within the scope of application of the GDPR and try to reach compliance with its requirements in a timely manner.