Starting an SL in Spain to buy property as a foreigner

[Brenna M.]

Hi! I'm new to this forum, seeking help from anyone who might have pursued the same situation I'm interested in.

I'm a US citizen, residing in the UK. I'm interested in starting a sociedad limitada (SL, equivalent to an LLC) in Spain to purchase and rent out property. I have ties to Spain, and the property is cheap with good demand.

If anyone has done the same, starting an SL to buy and rent property as a foreigner, I'd like to get some advice on the process:

- Tax wise, it seems doing this through an SL is advantageous since the tax rate would be 25% instead of my personal income tax rate in the UK, and I get to write off more expenses.

- How do I file my taxes in Spain, which forms do I have to submit on a quarterly and annual basis?

- Are there any good programs to do bookkeeping, am I able to do taxes and bookkeeping myself or would you recommend seeking professional help? The accountants I reached out to quoted me about 150 EUR/month which is way too high a price, so I'd like to find a way to do it myself.