A "Regio" is a magical "zone" that is attuned to a particular realm. Think of them like ritual circles... then have the refs glare at you.
Some Rituals require you to be in a Regio to cast... usually they require an appropriate realm Regio in the terretory you want to affect.
Wanna blight the Grendel? - Gotta find a Winter Regio on their Island to do it.
There is also a Night Ritual that takes a Regio and adjusts its alignment to another flavour for the next ritual done. - Yay... we get to spend 20 minutes defending rituals under barbarian attack, rather than 10!
Some have Gates that open to pockets of the Realms... sometime people store things there, sometimes evil things lurk within.
The Regio at Anvil is called the Sentinel Gate and is aligned to all six Realms at once. It can also be used to access the Hall of Worlds (It's a wizard thing) and cast rituals that affect the whole Empire.
Off-hand commets by the Raffster suggest that the Sentinel Gate may also give you +1 lore when doing rituals there, but at the cost of increasing your cast time to 10 minutes (even if your ritual is normally 2).