Microsoft 365 features that help users manage their subscriptions, account settings, and billing information.
Yes, as I understand it, there is no limit to where you can share 365 family.
The geographic limits only apply to the person buying and activating the Office / 365 license. Once it is activated, in theory there is no limit on where you can share and use 365. So you should be able to buy and activate 365 Family in the US and share with people in Europe.
Once you have an Microsoft 365 subscription, you have to renew within the same country. The restrictions apply only for renewal.
Kindly refer this thread where similar question is answered.
https://answers.microsoft.com/thread/27a5475a-22b9-4156-b57c-5a17ecf17126