THE LEVEL OF OFFSHORIZATION OF BANK CAPITAL OF UKRAINE

This research examines the offshorization level of the bank capital of Ukraine. We consider the offshorization level of the bank capital as the weight of the share capital, formed in/through states that are considered to be offshore centers according to the Ukrainian legislation or to the data of OECD. The results indicate that 12,10% of the bank capital of Ukraine is formed not transparently, but through offshores; the most popular places to form their capital by banks are BVI and Cyprus; some typical schemes of the ownership structure are described; the indicator of the offshorization level of the bank capital calculated according to the Ukrainian legislation is much lower than according to the OECD report and reaches only 3,00% that shows that substantial changes to the Ukrainian legislation that regulates the transparency standards are needed.