Why settle on a foreign continent?

[Zenstrive]

Nope, a continent is indeed that, merely a difference in one tile.

This is always a good thing to check for in the opening turns. Not only does it mean more luxes, but you can settle most of your 'heartland' on a different continent and start stacking those boosts. That's +30% production and +40% gold if you can grab casa and put governors in the big ones you found!

Now I'm confused.
Is it or is it not affected?

 

[Sostratus]

It is.
The tile you capital city sits on is your home continent. Any other continent, whether the boundary is literally next to your capital or across an ocean, counts as a foreign continent for the purposes of policies, bonuses, wonders, etc.