In theory you can copy this over to a hard drive and boot off it, but with a few caviats/tweeks.
First off, you can't use dd as this copies block devices, you need to prepare the new system and use something like cp -var or rsync - Now to answer the meat of the problem
The new hard drive needs to be
(a) partitioned in such a way that the description of it is compatible with the filesystem - which in practice probably means matching the contents of fstab, and possibly having the appropriate partition set to bootable.
(b) Needs to formatted in a way that the "initial" Linux system can read - so probably ext4.
(c) Needs to have an appropriate loader installed on the drive - this typically means installing grub onto the new hard drive.
(d) you do not want empty directories for /proc /sys /dev as these
are special folders generated by the OS.
There may be other minor gotchas.
Depending on what you are attempting, you might want to instead create a VM with a block device, then do an OS install - using the variant of Linux which is most similar to the one you are trying to create. Then copy /etc to a backup location and mirror the appropriate paths in the vz image. You might need to revisit and tweek files like /etc/fstab (hence why you want a backup of /etc). You also need to be careful of the kernel image - if this is different you will need to tweek grub.