This paper presents an in depth review of Special Economic Zone (SEZ) all over the world. This can be summarized that an establishment of SEZ aims to enhance the prosperity of the country. There are several forms or types of SEZ depend on the establishing objectives, infrastructure of the country, country's politics, and geographical location. Six types of Special EconomicZone Free Trade Zone, Export Processing Zone, Enterprise Zone, Single Factory, Free Ports, and Specialized Zone associated with their characteristics are presented here. It also presents the insights of three leading nations in managing SEZ which include; 1) the United States of America, the pioneer of SEZ, 2) Shenzhen city of China, the most successful model of SEZ,and 3) India, the largest SEZ in the world. Those nations do not merely invest in their own countries. Limitations and benefits in establishing SEZ are also presented. Most of those are about special law, exclusive regulation, a reduction of operation barriers, tax exemption, and financial support. Therefore, this article can be used as a guideline for countries which would like to develop SEZ in the future.