Hypothetically if you were to live in a country that doesn't have a native ebay website for instance if you live in Denmark for example. Can you make a Paypal in Denmark and sell on Ebay UK?
an insight would be useful
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You may have eBay asking a few questions as to why your IP is not a UK IP, but within the EU its not too much of an issue so long as you explain it to them if asked.
If you try to do the same in say Nigeria you will find it a lot harder