Opening an account with ALPINUM BANK

The bank is in the process of liquidation.

In December 2022, Bank Alpinum AG was renamed Sora Bank AG. 

However, despite attempts at economic restructuring, the bank continued to incur annual losses. In March 2023, the shareholders decided to voluntarily liquidate Sora Bank AG and relinquish its banking licence. In March 2024, bankruptcy proceedings were initiated in Liechtenstein against the assets of Sora Bank AG. 

As a result, Sora Bank AG (formerly Bank Alpinum AG) has ceased operations and is in the process of liquidation and bankruptcy.

Alpinum Bank was founded in 2001 in Liechtenstein. The main shareholder of the bank is the Swiss family holding Transinvest Group with a two-century business history. The Bank offers an individual approach to each client and is mainly focused on opening accounts for trading and investment activities.

Alpinum Bank has a large network of correspondent banks, which will allow the bank's customers to work with all freely convertible currencies, in particular, with US dollars. Outgoing payments in US dollars are prohibited in some countries, for example: Ukraine, Russia, Cyprus, Gibraltar, Cuba, Jura, Iran, Iraq and most offshore jurisdictions (British Virgin Islands, Panama).

The procedure for opening an account must be preceded by a meeting of the client with a bank representative. Clients need to confirm the economic feasibility of their activities (for example, provide a detailed description of economic activities, contracts and invoices with counterparties, etc.).

Alpinum Bank does not open accounts for offshore companies, partnerships and multi-level structures.

Types of accounts. Personal and corporate accounts.

Personal presence at the bank when opening an account. Required (at the office of MaIra Consult).

Bank rates: The first incoming payment to the account must be at least CHF 10,000. From this amount, the bank takes off the commission for opening an account of 1000 CHF and the minimum balance of 5 000 CHF (this amount is blocked on the client’s account). For detailed current rates and questions on opening an account with Alpinum Bank, please contact the MaIra Consult office.

Procedure for opening an account with Alpinum Bank (Liechtenstein):

1. At first you fill out our application form for opening an account (at our office or remotely). In the application form, it is necessary to describe in detail the type of activity of the company, while indicating the partners for incoming and outgoing payments, account turnovers, and the scheme of funds flow.

2. Next, you provide us with high-quality scan copies of corporate documents of the company (for a legal entity) or personal identification documents (for an individual). At this stage, it is very important to provide documents explaining transactions on the account and documents confirming the source of funds of the owner of the company.

3. We generate a preliminary client file and send it to the bank to agree on the possibility of opening an account. The bank then invoices for the first incoming payment of CHF 10,000. The preliminary review by the bank of the client file is 2-3 weeks.

4. After receiving approval from the bank, we fill out bank forms and prepare a package of documents for opening an account. At this stage, additional documents and information may be required. All completed forms and additional documents are sent to the Alpinum Bank manager and a meeting is organized with a bank representative.

5. Client identification documents must be notarized and apostilled. Originals of corporate documents of the company are provided to the bank and returned to the client after opening the account.

6. The deadline for opening an account with Alpinum Bank from the moment of receipt of the original documents of the client at the bank is 2-3 weeks. There is no procedure of express account opening.

Alpinum Bank adheres to the “know your client” principle and, in each individual case, reserves the right to request additional documents, which will entail an increase in the terms for opening an account, and may also refuse to open an account without explanation.