The article explores the concept of a free economic zone. It is determined that the concept of a free economic zone is not formally updated, but in a collective understanding it is actively used by many specialists in practical circulation. The authors give arguments about the functioning of a free economic zone in Russia and analyze the general position of such zones in the world. The experience and practice of the functioning of free economic zones in the country are diligently monitored, but the main monitoring is concentrated at the Ministry of Economic Development of Russia, whose reports provide positive indicators. The article discusses a cross–section of reporting data reflecting only the functionality of territorial development zones, territories of advanced socio–economic development, special economic zones. Based on a sample of reporting data and discussion of the opinions of various experts, the authors present possible variations of the expansion of the types of free economic zones. In particular, it is proposed to consider options related to meeting the needs of socially low7income citizens, pensioners and other categories of persons in need of assistance and support from the state and society. Thus, it is essential to update the concept of «free economic zone» at the legislative level and to form a unified legal message of the types of such zones.