You should take into account that temperatures in winter in Estonia can easily go to -30 degrees, However, you can establish a company in Estonia:

An alien may apply for a residence permit for business, if such alien owns shares in a company or acts as a sole proprietor, and:
the alien has invested in Estonia a capital sum of at least 65 000 euros under his/her control in the case of a company;
the alien has invested in Estonia a capital sum of at least 16 000 euros under his/her control in the case of a sole proprietor.

The equity capital of a company, subordinated liability and registered fixed assets value may be considered as investment.

For submitting an application, please address in person a foreign representation of the Republic of Estonia.
Submission of application
The application for residence permit may be submitted in Estonia, provided that the following conditions are fulfilled:
the company has been registered in Estonia at least 4 months prior the submission of an application for residence permit;
the company has conducted business activities in Estonia at least during the last 4 months;
the person is staying in Estonia legally on the basis of visa-free stay or visa in connection with the activities of the company.
The description of business plan must be submitted either in Estonian or English language;
an alien applying for residence permit for employment, whose company has been registered in Estonia for less than 12 months and commences operation with the support of the state or private investments, having received investment or loan from the state or a private management company licensed by the Financial Supervision Authority or a support from a public support measure;
an alien who is holding a long-term resident's residence permit of a Member State of the European Union and is applying for temporary residence permit for business;
an alien who has acquired higher education in Estonia in the applied higher education or Bachelor's studies, Bachelor's and Master's study integrated curricula, Master's study or Doctoral study.

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Hey there , i am living in Estonia and are going to set up a goatfarm early next year. Maybe we could join forces? I have a registered company in estonia and i know the country very well.
Let me know if youre interested. My email adress is : tigerjansen at hotmail.com

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