I may not have explained myself clearly, so I apologize if there was any confusion.You are absolutely right that to carry out tangible commercial activities in Spain, such as real estate projects, it is necessary to establish an SL (Sociedad Limitada).

The information posted by the Federal Mortgage Society (Sociedad Hipotecaria Federal) (SHF) on the Mexican federal official website is a positive step forward, even though it currently focuses on properties with mortgages which according to SOFTEC is 80% of transactions with Mexican buyers.In terms of property classifications, consulting companies in Mexico often categorize properties into several price ranges, such as:- Social: Minimum price: $8,824 USD to maximum price: $24,117 USD- Economic: Minimum: $24,117 USD to maximum: $45,882 USD- Medium: Minimum: $45,882 USD to maximum: $114,706 USD- Residential: Minimum: $114,706 USD to maximum: $247,059 USD- Residential Plus: Minimum: $247,059 USD to maximum: +Most foreign investors tend to focus on the Medium, Residential, and Residential Plus categories, particularly in Class A and B neighborhoods.

They have done this before and they establish a company as a 'sociedad anonima' (or SA) which I think is a C Corp equivalent. 

Perhaps in S.A´s (Sociedad Anonimas), but I am not positive. 

I'm interested in starting a sociedad limitada (SL, equivalent to an LLC) in Spain to purchase and rent out property. 

My advice to you is to start an SRL (Sociedad de responsabilidad limitada) work your way up with the SRL the cost varies if you have contact in RD directly it can cost about $500USD but if you have to go through lawyers it will cost you $3kUSD.