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One of the requirements for PR is 3 consecutive 1-year extensions.

The way I understood this was that you had to actually wait out the 3 years while being on 1-year extensions.

I read somewhere recently (can't remember where) that you can apply for PR after your 3rd 1-year extension has been approved; i.e. you don't actually have to wait out the 3rd year while on the extensions.

My 3rd 1-year extension should be approved within days. Does this mean I could (if everything else is in place*) apply for PR this December (2007) or would I have to wait until next September to get my 4th 1-year extension and then apply for PR next December (2008)?

Thanx in advance. :-)

* I know about all the other requirements, i.e. taxes etc. The question above is assuming I have been here significantly longer than just the 3 years and that everything else is 100% in order.

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