**TITLE: Without a Judiciary... Who Can Save Me?**
One of the greatest concerns arising from Morena's overwhelming victory in the elections is the possible implementation of a reform to the judiciary, such that we lose the power that guarantees our rights. This concern is not unfounded; if after the reform, those in charge of administering justice are chosen based on ideological and partisan criteria, without consideration for expertise, objectivity, or independence, indeed, there will be no one to defend citizens against governmental actions.
What to do in these cases? This is the million-dollar question and I believe there is no universal answer. However, theory suggests that one possible strategy is to identify the most valuable assets one has and associate them with options to protect them. Thus, in an oversimplified manner, in this column, I share some considerations regarding three assets that are of utmost importance to us as individuals.
The first asset is personal and consists of individual security and freedom; the second refers to the financial assets one may possess, and the third to operational and real estate assets located in the country.
Regarding the first asset, to ensure individual security and freedom, an option B is required. Today, for Mexicans, it is relevant to have an alternative place to reside. In restaurants, clubs, and homes, the dinner conversation revolves around whether one has another nationality, another passport, or another visa that could allow, in the blink of an eye, to pack up and leave if things get very complicated in the country. No one wants to do it, unless the issue of insecurity and the deterioration of the rule of law becomes very serious. Here, the crux of the matter is having some official document from another country that allows one to legally leave and enter another country, additionally, with rights to reside and work in that other jurisdiction. The automatic option is another nationality by parents born in another country or by birth, but it is necessary to have a document that allows international travel under that citizenship. A second option, for those who do not have another citizenship, is to seek a visa under the multiple investment programs offered by several countries, known as Golden or Investor Visas. That is to say, whether by ius sanguinis, ius soli, or ius “money”; today, having one of these documents is important in protection strategies.
Regarding the second type of assets, financial assets, there is a wide range of alternatives. This includes all types of currencies and investment instruments (bonds, stocks, etc.). The risks to cover are currency risk, country risk, and personal debt risk. To cover currency risk, one should ensure that assets are denominated or tied to other currencies. To cover country risk, assets should be held outside of Mexico by international financial institutions. For personal debt risk, assets should not be in the direct name of the individual, but rather the legal owner should be an international structure with characteristics that protect against creditors. An appropriate strategy will ensure that assets are not affected by peso volatility and that any dispute or controversy must be addressed in courts and under the legislation of a jurisdiction where the rule of law is considered to be in better condition than here.
Regarding the third type of assets, options are few and complex. There had been attempts to transfer these assets to trusts, where the holder would not be an individual but a Mexican financial institution, providing an additional layer of confidentiality and legal protection. While this is partially true, the threat of radical changes in legislation and the judiciary could significantly diminish the quality of protection previously offered. What is being seen is leveraging various investment protection treaties that Mexico has signed to reorganize the corporate ownership structure of the assets and create some of the contact points provided for in the treaties, which would allow beneficiaries of the new structure to seek compensation for damages before international courts based on supranational legislation for any harm the Mexican government might cause against their assets in Mexico. Legal mechanisms that could provide nationals with recourse against abusive actions by authorities.
