We analytically derive an equation describing vesicle evolution in a fluid where some stationary flow is excited regarding that the vesicle shape is close to a sphere. A character of the evolution is governed by two dimensionless parameters, S and Λ, depending on the vesicle excess area, viscosity contrast, membrane viscosity, strength of the flow, bending module, and ratio of the elongation and rotation components of the flow. We establish the "phase diagram" of the system on the S − Λ plane: we find curves corresponding to the tanktreading to tumbling transition (described by the saddle-node bifurcation) and to the tank-treading to trembling transition (described by the Hopf bifurcation). PACS numbers: 87.16.Dg, 87.17.Jj, 05.45.a Vesicles are closed membranes which separate two regions occupied by possibly different fluids. The vesicles are attracting significant attention not only due to their resemblance with biological objects but also because of their importance in different industries such as pharmaceutics where they are used for drug transportation. A natural problem which arises in these applications is understanding of how a single vesicle behaves in an external flow. This non-equilibrium problem has revealed a variety of new physical effects and became a subject of intense experimental and theoretical studies. Laboratory experiments [1,2,3,4,5] have shown that the vesicles immersed in a shear flow exhibit at least two qualitatively different types of behavior, either tank-treading or tumbling motion. In the tank-treading regime a vesicle shape is stationary, it is ellipsoid oriented at an angle with respect to the shear flow. In the tumbling regime the vesicle experiences periodic flipping in the shear plane. A novel type of behavior: trembling, discovered in the work [6] is an intermediate regime between tank-treading and tumbling in which a vesicle trembles around the flow direction.Constructing a phase diagram for all these regimes depending on the external parameters is a challenging and an extremely difficult task because the problem in consideration is both strongly non-linear and non-equilibrium. As long as no analytic solution of this problem exists theoretical studies were based either on numerical simulations or on some approximations allowing analytical treatment. Numerical investigations of this problem involved several different computational schemes, including boundary element method [7], mesoscopic particle-based approximation [8,9,10,11,12], and an advected field approach [13]. These approaches have shown qualitative agreement with experiments however did not solve the problem of constructing the vesicle dynamics phase diagram completely. Analytical studies of the problem can be divided in two major classes. In the first one [9,14,15], phenomenological models of a vesicle dynamics based on the classical work of Keller and Skallak [16] were proposed and proved themselves to be rather efficient in explaining the experiments. In the second series of works [17,18,19,20] the studies foc...