Indeed they are. I stumbled across this link because I'm travelling to Estonia in a few months (found from Wikipedia's image of the day, which was this[0]). But I am aware of their e-residency program [1], which is quite an interesting innovation. It's part of a larger effort [2] as well, turns out.
[0]: https://en.wikipedia.org/wiki/Taagepera_Church
This is really a very cool thing! It gives you possibility to open bank accounts, start companies and do business with Estonia in a better way without even being there, if I’m not wrong.
You couldn’t set up a bank account remotely for a long time. But you can now setup a Holvi account online and it’s really easy, doesn’t even require a Skype call.
There are still some niggles, if you need insurance for example (professional indemnity) it doesn’t seem easily available. But I’m hoping more services will become available, and things will get easier.