Garmin moves from Cayman Islands to Switzerland
Mar 20, 2010 garmin, gps navigation, misc news
Garmin wants to shift the location of its incorporation from the Cayman Islands to Switzerland, a move which was approved by the board and now waits for share holders to chime in. Company says the Swiss office will provide a base for expansion in Europe and allow for easier acquisition of European businesses. Garmin would then become a Swiss company but would still remain subject to the U.S. Securities and Exchange Commission reporting requirements and other rules of Nasdaq. All their finances would still have to be managed in U.S. dollars too.
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March 20th, 2010 at 11:45 am
Hmmmmmm……so the Cayman’s have lost their hold on hiding surplus [$'s] funds ?
The SEC now demanding tradable stock companies comply by only doing business with approved banking countries ? WOW !!
Now , what the heck are all the drug dealers gonna do with all their money? Stuff a mattress or deposit in a country like Switzerland, which obviously would allow the USA to look inside the accounts.
May 21st, 2010 at 10:44 pm
Hi,
I have heard lot about Clocka brands and I must tell that I am great fan of that… Keep it up
Thanks,
Tom