Estonia is a small country in the Baltics region of the EU. It has recently become famous thanks to its e-Residency program, a program designed to help grow the local economy and tax base by allowing non-residents to remotely register and run local companies. The program’s main selling point is Estonia’s fairly unique distribution-based taxation system. In short, only distributed income is subject to taxation. This system not only makes Estonia an interesting place in which to register an active business but also a holding company. That said, tax rates for anything else than dividends are extremely high and must be taken into account when comparing it to other options.