Abstract: The article is devoted to complex research of the economic essence of offshore banking as a key institutional mechanism for cross-border movement of financial capital in a global environment. Substantive attention has been devoted to the role of offshore banks in the formation of institutional conditions for the accumulation and redistribution of financial capital in the global economy, the transformation of aggregate savings of economic agents of different countries into global investment capital. Complex investigation was undertaken of the processes related to key competitive advantages of offshore banks, specifically providing business structures with effective circumvention of corporate taxation barriers, numerous restrictions on business practices, direct government control and currency regulation. The scale, geographical and instrumental structure of global offshore banking, as well as the interregional distribution of cross-border assets and liabilities of offshore banks have been analyzed. The objective reasons for the intensification of international competition in the sphere of global financial flows and the formation of new points of accumulation of offshore banking capital in the Asian countries have been substantiated. It was proved that in the global economic environment the monopolization of offshore banking leads to the establishment of the exclusive right of offshore banks to settlement, deposit, credit, trade and financial services for non-residents; conducting Eurocurrency, OTC derivatives, leasing, insurance and trust transactions; investing assets in the national economies with the highest investment return rate and investment growth. It was grounded that these processes will not only significantly increase the impact of offshore banking on the structural dynamics of world economy, but also modernize traditional schemes of using offshore financial networks in order to fully meet the needs of economic players in banking and quasi-banking services.