Thread: similar websites in different languages

I want to make 2 websites, one in English the other one in Spanish same content but different languages and to link them between them. Could I have both in the same hosting account, how could I avoid to be penalized by search engines ? Or shall I make different accounts ? On the top page of the English version should write Spanish so people could see the Spanish version of the website and on the Spanish version to write English to go to the English version. I want to have two domain names, one in English the other one in Spanish and don't want to post both languages on the same website.

If you have 2 sites with the same content but different languages, your ok with Google.