Why would I renounce my permanent resident status?
There are multiple situations in which a person might wish to renounce permanent resident status including:
You want to accept a diplomatic or official position with a foreign government;
You want to obtain citizenship or permanent resident status in another country and that country requires you to renounce permanent resident status in Canada;
You only want to visit Canada and you know you have not met the residency obligations because you have been outside of Canada for a long period of time and
you don’t want to wait for a visa officer to assess whether or not you are still a permanent resident of Canada; OR
You would like to avoid delays at the Port of Entry.
You no longer want to live in Canada permanently.
Note: You do not need to renounce your permanent resident status in order to become a Canadian Citizen.
What happens if I renounce my permanent resident status?
If you renounce your permanent resident status, you will permanently change your status in Canada as of the day your application is approved by an officer. You will be unable to appeal the decision to the Immigration Appeal Division (IAD). You will no longer be a permanent resident of Canada. You will no longer be eligible to apply for Canadian citizenship. Any application for Canadian citizenship that is still in process will be refused.
How will renouncing my permanent resident status affect my family?
Your family members do not need to renounce their permanent resident status if you do. They can remain as permanent residents.
However, when CIC receives your application to renounce your permanent resident status, it will suspend any active family class sponsorship applications you may have already submitted. If your application to renounce your permanent resident status is approved, any sponsorship application that is still in process will be refused. The applications for permanent residence of any family you have sponsored that are still in process will also be refused. The processing fees will not be refunded.
Check this information before renouncing your PR. I would suggest not to renounce if you want to stay with your family