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Permanent resident card is the official proof of your status in Canada.

Does the word refer to condition and circumstances?

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status sense 1.
Used here its a legal term referring to the reason you can reside in Canada. Everyone has such an official status in their home country or if they go to a foreign country.

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Status, in this case, refers to your immigration status, or the legal definition of your right to live in Canada.

In the entry for status in the Oxford Dictionaries Online, it is meaning 1.2, "The official classification given to a person, country, or organization, determining their rights or responsibilities."

In your example, your permanent resident card is your official proof that you are a legal permanent resident of Canada, and have all the rights and responsibilities that permanent residents are guaranteed under Canadian law.

Since your question suggests that you are reading up on permanent residency in Canada, here are some potentially helpful links:

Government of Canada page on permanent residency
Wikipedia page on Canadian permanent residency

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I suppose you could say it's circumstances. Someone's legal status in a country is referring to if they are there legally, illegally, a permanent citizen, there on work visa, have a student visa, etc.

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