GDPR for family offices: What you need to know about data management
Personal data, financial information, KYC documents — family offices handle sensitive data every day. A practical guide to GDPR compliance.
## GDPR basics for family offices
Family offices process a wide range of sensitive data: ID documents, bank details, tax information, investment details.
## Legal basis for processing
Every data processing activity requires a legal basis: contract, legitimate interest, or consent.
## Retention periods
Data may not be stored indefinitely. Different retention periods apply depending on the type of data.
## Technical measures
Encryption, access controls, and audit logging are mandatory — not optional.
## Documentation requirements
A record of processing activities under Art. 30 GDPR is mandatory for family offices.