You've been to Thailand many times and yes, you love to stay in the country even longer. So the idea of making Thailand your second home excites you. And you know you're not alone. Getting a piece of Thai property has risen in the past decade with the influx of tourists and more people wanting to retire in Thailand.

But how much do you know about owning a property in Thailand? Are you well aware of the common property problems faced by foreigners in this country? Before you begin your search, do your homework and watch out for the many problems that may arise in acquiring property in Thailand.

You're first question might be, "Is a foreigner allowed to own land in Thailand?" Generally, a foreigner is not allowed to own land in his or her name; however their Thai registered company can. There are different business entities in Thailand and the most commonly used for this purpose is a Thai Limited Company in which certain business registration criteria must be satisfied.

There are alternatives available to foreigners for successful land acquisition. Another option is to enter into a long term leasehold agreement with the land owner. It is an uncommonly known fact that although a foreigner cannot own land in Thailand, he can own the house or structure built on one. After completing the leasehold agreement, the foreigner will need to apply for a construction permit to build the house in his own name.

Another way to own land in Thailand is marrying a Thai national, which in this case they can own land as a couple. However, the land or property must be registered under the Thai spouse's name, hence, this means the foreigner spouse is forfeiting any claim on the land or property. This can prove to be a disadvantage on the foreigner spouse especially if the marriage ends in a messy divorce, so a well-drafted prenuptial agreement may help minimize the risk.

After the basics on how to own land or property in Thailand, know the steps in buying real estate in Thailand. Select a trusted property agent, learn more about Thailand property taxes, title investigation, reviewing contracts and be involved in more legal planning. And if you are in doubt, use the legal services of registered and reputable lawyers in Thailand to protect your interests and ensure that you're much closer to owning your piece of paradise.