Residency:

The tarjeta de residencia (residency card) is a card incorporating your NIE, your personal details and, for non-EU citizens, a photograph and fingerprint. It is necessary for transactions where someone wants to see a proof of your current physical address in Spain, to apply for free Healthcare and all the above.
After you have been registered as a resident for five years, you can apply for a certificate of permanent residence in Spain. You will be issued with a similar credit card size Residence Certificate, but it will additionally state that you are a permanent resident (residente permanente).
The Spanish residency has two different versions:
EU citizens – it is a green card with your personal details and no photo.
Non-EU citizens – it is a blue / pink card with your personal details as well as a passport photo on it.
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What can I use it for?
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There are some common activities / procedures you can carry out with the Spanish Residency
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Pay tax
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Healthcare
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Get employed
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Unemployment benefits
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Register a business
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Buy / sell a car
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Buy / sell properties
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Other legal economic activities
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Renewal of your driving licence into Spanish.
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Get your Spanish health card covered by national insurance (you can get it on an NIE if you’re employed in Spain though)
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A possible tax reduction on properties when you sell / buy
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A tax reduction on inheritance tax may also be applied
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Also all the points above for a NIE applies.
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What does a Residency Card look like?
A Residency car is issued by the National Police on a little size of paper (8.6cmx5.5cm) which also has your name, surname, date of birth, nationality and your address (see photo below for more details). Example: X-12345678-R.