Yes indeed.
If you have "No Live Trace", that means you were not convicted of a crime, or it has been "stepped-down" as they say, but there is a record of you. In that case, you can be sure that visa officer will want to know what they have on file about you, and will request documents like court documents, police reports, etc... In that case you'd know you should initiate the process of getting them from the get go. And then you apply for PR. Thay way you're sure to have documents on-time at the time of application
If you have "No Trace", in that case you're all clear from a criminality standpoint, and go ahead with PR. However, get the documents mentioned earlier no matter what, because of this next point below.
Yes, you WILL have to disclose this removal in your application when answering one of the statutory questions asking whether you were "refused entry to a country, or removed from a country in the past". You'll have the possibility to explain upfront, and can even add upfront LOE.
But as long as you were not convicted of a crime which would render you inadmissible, it's okay.