Privacy Notice
Tharsis Labs Ltd
Collectively (“we”, “us”, “our”)
The British Virgin Islands (“BVI”) Data Protection Act, 2021 (“DPA”) governs the use of Personal Data by BVI entities. This Privacy Notice describes how we collect and process Personal Data about you; how we use and protect your Personal Data; and your rights regarding Personal Data.
This Privacy Notice applies to all Personal Data provided to us, both by you or by third parties, and we may use your Personal Data for any of the purposes described in this Privacy Notice or as otherwise stated at the time of collection.
Any terminology and capitalised terms used in this Notice bear the meanings as prescribed in the DPA unless the context requires otherwise.
DATA CONTROLLER
As the Data Controller, we are responsible for ensuring that we use your personal data in compliance with the DPA. We have appointed Driftwood Global Holding Limited as Data Processors. We may be contacted via email at privacy@thars.is.
TYPES OF PERSONAL DATA
The Company and Data Processors may Process the following types of Personal Data:
(a) Personal Data provided by you to us including: your name, address, contact information, birthdate, gender, nationality, photograph, signature, occupational history, job title, income, assets, other financial information, bank details, investment history, tax residency, and tax identification information.
(b) Personal Data collected or generated by us including: information related to your emails (and related data), correspondence, call recordings, and website usage data.
(c) Personal Data obtained by us from other sources, including: know your client (Know Your Client) (“KYC”) / client due diligence procedures (anti-money laundering (“AML”), counter-terrorist financing, proliferation financing, sanctions, politically exposed persons), tax purposes (US Foreign Account Tax Compliance Act (“FATCA”), OECD Common Reporting Standard (“CRS”)), future regulatory, securities and tax requirements, information from public websites, public sources of information, and information received from your advisors or intermediaries.
LAWFUL PURPOSES AND PROCESSING PRINCIPLES
Lawful Purposes
Personal Data provided by you, collected or generated by us, or obtained by us from other sources will be held, disclosed, and Processed by us and Data Processors for the following purposes:
(a) Performance of a contract
(b) Compliance with a legal obligation including where it is necessary to comply with any applicable current or future legal, regulatory, or tax requirements imposed on the Company, the Company and/or any third party service provider will Process your Personal Data in accordance with legal obligations under company law, tax law, AML, and counter-terrorist financing (“CTF”) legislation, including, but not limited to:
(i) AML/CTF or Ultimate Beneficial Ownership (“UBO”) legislation and regulations may require us to identify prospective, existing, or previous purchasers and, as such, certain information will be required at the time of application as set out in relevant agreements which will be Processed accordingly; and
(ii) FATCA / CRS regulations may require us to collect certain information about each prospective, existing, and/or previous purchaser’s tax arrangements. For FATCA / CRS reporting purposes, please note that in certain circumstances we may be legally required to share such information, and other financial information with respect to a purchaser with relevant tax authorities, and we may be legally restricted from disclosing to you that such Processing is undertaken.
Processing Principles
We will abide by the following data protection principles when Processing Personal Data:
(a) Your Personal Data from time to time provided by you, will be Processed fairly.
(b) Your Personal Data will not be further Processed in any manner incompatible with the purpose or purposes for which it was collected and Processed.
(c) Your Personal Data will be adequate, relevant, and not excessive in relation to the purpose or purposes for which we collect or Process your Personal Data.
(d) Your Personal Data will be accurate and, where necessary, kept up to date.
(e) We will not keep your Personal Data for longer than is necessary to satisfy the purpose or purposes for which your Personal Data was collected or Processed.
(f) We will Process your Personal Data in accordance with the rights of Data Subjects under the DPA.
(g) We will ensure that appropriate technical and organizational measures are taken to safeguard against unauthorized or unlawful Processing of your Personal Data and against accidental loss or destruction of, or damage to, your Personal Data.
Data Processors may Process Personal Data in accordance with data protection principles which are viewed as generally similar, but not identical, to the DPA. The Processing of Personal Data by the Data Processors may differ from the requirements of this Notice, but should provide broadly similar outcomes.
CONSENT TO MARKETING
Parties engaged to assist with the operation of the Company may contact you with information regarding other offered products and services. Such contact may be by telephone, email, or by other reasonable means of communication.
You can require such parties to stop contacting you with such marketing information by contacting the Company as provided above.
Such a request will not affect the lawfulness of Processing based on consent before its withdrawal.
Your consent is not required to Process your Personal Data for the performance of a contract, compliance with legal obligations pursued by the Company as referenced above.
PERSONAL DATA RECIPIENTS
We may disclose your Personal Data to the following recipients:
(a) our affiliates and third party service providers;
(b) our professional advisors, auditors, IT, and other service providers; and
(c) Competent authorities (including tax authorities), regulators, courts, law enforcement agencies, and other regulatory entities as required by applicable law, or as requested by such entities, Company affiliates, or third party service providers for internal investigation and reporting purposes.
In relation to any other third parties, we will only disclose your information in the following circumstances:
(a) where you have given your consent;
(b) where we are required to do so by law or enforceable request by a regulatory body;
(c) where it is necessary for the purpose of, or in connection with legal proceedings or in order to exercise or defend legal rights; or
(d) if we transfer management or control of the Company.
INTERNATIONAL TRANSFERS
Personal Data will be held in, and may be freely transferred between, countries that are located inside the European Union (EU) and third countries that have adequate protection for your rights in relation to the Processing of your Personal Data.
Where a Personal Data transfer is made to a jurisdiction which provides a level of data protection lower than that prescribed by the DPA, we will take steps to ensure the security and confidentiality of your Personal Data in accordance with the DPA.
PERSONAL DATA RETENTION
How long we hold your personal data for will vary. The retention period will be determined by various criteria, including the purposes for which we are using it (as it will need to be kept for as long as is necessary for any of those purposes) and legal obligations (as laws or regulations may set a minimum period for which we have to keep your personal data).
YOUR RIGHTS UNDER THE DPA
Under the DPA, you have the following rights in relation to how we Process your Personal Data:
(a) The right to request access – you may obtain confirmation from us as to whether or not your personal data is being Processed and, where that is the case, access to your personal data;
(b) The right to rectification and erasure – you have the right to obtain rectification of inaccurate personal data we hold concerning you and to obtain the erasure of your personal data in certain circumstances;
(c) The right to restrict Processing or to object to Processing – you may require us to restrict the Processing we carry out on your Personal Data in certain circumstances or to object to us Processing your Personal Data;
(d) The right to withdraw consent – where you have provided your consent to us Processing your Personal Data, you have the right to withdraw your consent at any time. You may exercise this right by contacting us; and
(e) The right to submit a complaint – you may lodge a complaint with the BVI Information Commissioner.
