A Bitcoin real estate remittances company is working to lower the bureaucratic complexity of buying American real estate for the Chinese middle class.
The venture, Meson.re, is the brainchild of Ragnar Lifthrasir, a real estate entrepreneur with over “eight years of experience including, analysis, investment tittle insurance and construction.” He is also the president of the International Bitcoin Real Estate Association.
Capital controls in China are both limiting and discriminatory, weighing most heavily on the middle and upper class. Lifthrasir told CoinTelegraph that there is great demand from these groups to buy American real estate. He said:
“For the very wealthy it is easy [to buy American real estate] because they have very complicated portfolios and highly paid bankers, but for the middle to upper middle class Chinese it is difficult.”
China limits citizens to US$50,000 per person, per year which can be withdrawn from the country. With real estate going for $500,000 to $10 million in America, this makes the purchase of a foreign home very challenging.
Lifthrasir says that there are three main ways in which the Chinese can transfer money to America.
The first is to get family and friends to use up their legal allowance to move the money. At US$1 million