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|Most Serene Principality of Axvalley|
|— Crown Dependency of Austenasia —|
|Established||20 February 2013|
|- Governing Commissioner||Rubens Machado, CAO|
|- Lord Lieutenant||Victor Silveira Verona|
|- Total||0.09 km2 (0 sq mi)|
The Principality of Axvalley is a Crown Dependency of the Empire of Austenasia situated in South America, bordered on all sides by the Minas Gerais state of Brazil. Established on 20 February 2013, the territory was formally annexed by an Imperial Decree.
Axvalley is governed by its founder Rubens Machado, who rules as Governing Commissioner in the name of the Emperor. The land claim is Austenasia's second-largest and most second-most populous, measuring nine hectares with a population of seven. It is mostly Roman Catholic, although there is a Spiritualist minority. Although its population are counted as Austenasian residents, they do not hold the status of subjects. The main building used for the administration of the Crown Dependency is known as Francis Palace.
Although under Austenasian sovereignty, Axvalley is a Crown Dependency, and so is neither taxed nor has representation in Parliament. The Emperor holds absolute power (exercised by the Governing Commissioner) over the Crown Dependency, with Austenasian legislation not applying to Axvalley unless it explicitly refers to it.
To mark the fifth anniversary of Austenasian independence, September 2013 saw several developments in Axvalley. A flag which Rubens Machado designed for Axvalley was adopted on 4 September 2013. On 12 September, Axvalley changed its formal name to the Most Serene Principality of Axvalley, and on 21 September, Machado gave as an honorary hereditary status the title Lord Lieutenant to fellow resident Victor Verona, naming him the "Second Man of [the] Principality."