Garmin Ltd. announced its board of directors unanimously approved moving the place of incorporation of the company from the Cayman Islands to Switzerland. Garmin's shareholders will be asked to vote in favor of the proposed change in place of incorporation at a shareholders meeting, which is set for May 20. 'Following a thorough review, we have determined that it is in the best interest of Garmin and its shareholders to change the jurisdiction of incorporation of our group parent company to Switzerland,' said Dr. Min Kao, chairman and CEO of Garmin, in a statement. 'Switzerland is centrally located in Europe in close proximity to our major Western and Eastern European markets.' Full report in Trade Only..