Two WP installs with same database, content and users.

I’ve spent a lot of time creating a new wordpress site, where people can register, submit their own content (posts, images etc.) and interact with each other (private messages, comments etc.).
I use some plugins:
– Buddypress (+ BP Followers + BP Registration Captcha)
– WordPress social login
– WP User Frontend

Now i want to make the website multilingual.
Is it possible install another copy of wordpress and only share the databases for users, posts and the data stored by the plugins?

So i could create another version of the theme with the 2nd language texts and install 2nd language versions of the plugins.

Thank you.