As far as the HP ALM or HP QC Ent application is concerned there are no geographic restrictions. The purchasing company is responsible for keeping track of an enforcing the restrictions.
The restrictions are defined by HP as follows...
means a license allowing the software to be used at an address (e.g., room number, department number, building number, street address, campus etc.) or a group of addresses specified in the applicable Supporting Material. Site cannot include multiple addresses or addresses in multiple countries or states. Site licenses cannot be moved to an alternate Site after the original purchase without paying to HP a geographic relocation fee. If no Site address is explicitly specified in the Supporting Material, then the Site address will be the Ship To address specified on the quotation.
means a license allowing the software to be used in a single region, defined as the Americas (North, Central and South America and Mexico) or EMEA (Europe, Middle East and Africa) or JAPAC (Japan, Asia, Pacific Rim and Australia); Area cannot be global or multiple regions. Area is determined where the order for the license is placed, unless the applicable Supporting Material indicates otherwise. Area licenses cannot be moved to an alternate Area from where the original order was placed, without paying to HP a geographic relocation fee.
means the right to use software worldwide.