Look at already existing geo blocking systems. It always depends on the implementation.
Can you buy a cheap DVD somewhere in Asia, and play it at home in the US? No, because the DVD has a region, and the player has a region, and so, you also have to buy a player where you buy the DVD.
Netflix has another system, it checks in real time. You get the content of the region your client connects from. If you fire up a VPN, you get the catalogue of the region your VPN server is in (if Netflix lets you connect, that is).
Can you buy a cheap DVD somewhere in Asia, and play it at home in the US? No, because the DVD has a region, and the player has a region, and so, you also have to buy a player where you buy the DVD.
Netflix has another system, it checks in real time. You get the content of the region your client connects from. If you fire up a VPN, you get the catalogue of the region your VPN server is in (if Netflix lets you connect, that is).