Do trade companies still have to be overseas?

[Chronicler]

I was just wondering since it makes no sense anymore considering the cores have to be territorial for it to be in a trade company anyhow? (And if it becomes a state it's removed from the trade company)

If it still has to be overseas maybe it should be changed to just being territorial cores?

 

[SKOTy]

You can only have trade companies on different continent than your capital is.
E.g. if you have capital in Europe, Oceania or America you can have trade companies both in Africa and Asia.
If you have capital in Asia you can only have trade companies in Africa and vice versa.

After removing a province from trade company it reverts back to territorial core and you can't add stated provinces into trade companies.