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Jan 12, 2022
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I have lived and worked in Canada over 40 years. I am retired, receive cpp and oas, have an rsp investments and own a home. If I travel and live abroad in Europe for 2 years or greater will I lose my PR? And is it possible to reinstate it given my circumstances explained above? Would becoming a Canadian citizen avert any issues a permanent residency re-entry would encounter?
 
I have lived and worked in Canada over 40 years. I am retired, receive cpp and oas, have an rsp investments and own a home. If I travel and live abroad in Europe for 2 years or greater will I lose my PR? And is it possible to reinstate it given my circumstances explained above? Would becoming a Canadian citizen avert any issues a permanent residency re-entry would encounter?

If you become a Canadian citizen, you can remain outside of Canada for as long as you want. No limitations.

As a PR, you must live in Canada for 2 out of every 5 rolling years to meet the residency obligation.

I'm not sure what you mean by "reinstate". If you are asking about getting your PR status back if you lose it, then you would need to reapply for PR under one of the current economic immigration programs such as Express Entry. If you are retired, it's going to be extremely difficult to qualify under one of these programs due to your age and other factors. Best plan is to become a citizen and then you'll have no restrictions on how long you can be outside of Canada.