Company: TOP
Filing Date: 2025-04-30
Form Type: POS AM
Source: 0001213900-25-037641
Chunk: 74

Company: TOP Financial Group Ltd
Filing Date: 2025-04-30
Form: POS AM
Chunk 74
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exchange control regulations or currency restrictions in the Cayman Islands.

Payments of dividends and capital in respect
of the shares will not be subject to taxation in the Cayman Islands and no withholding will be required on the payment of a dividend
or capital to any holder of the shares, nor will gains derived from the disposal of the shares be subject to Cayman Islands income or
corporation tax.

No stamp duty is payable in the Cayman Islands
in respect of the issue of the shares or on an instrument of transfer in respect of a share, except that stamp duty will be payable on
an instrument of transfer if it is executed in, or an original copy or brought into, the Cayman islands and save for those which hold
interests in land in the Cayman Islands.

United States Federal Income Tax Considerations

Information regarding United States Federal Income
Tax Considerations is set forth under the heading “10.E. Taxation - United States Federal Income Tax Considerations” in our
most recent annual report on Form 20-F, which is incorporated in this prospectus by reference, as updated by our subsequent filings under
the Exchange Act.

<div align='center'>EXPENSES</div>

The following table sets forth the estimated
costs and expenses, other than underwriting discounts and commissions, payable by us in connection with the offering of the securities
being registered. All the amounts shown are estimates, except for the SEC registration fee.

| SEC registration fee                        |     | $ | 33,060 |
| Financial Industry Regulatory Authority fee |     | $ | 45,500 |
| Legal fees and expenses                     |     | $ |      * |
| Accounting fees and expenses                |     | $ |      * |
| Miscellaneous                               |     | $ |      * |
| Total                                       |     | $ |      * |

| * | To                                                                                            
 be provided by a prospectus supplement or as an exhibit to a report of foreign private issuer 
 on Form 6-K that is incorporated by reference into this registration statement.               
 Estimated solely for this item. Actual expenses may vary.                                     |

<div align='center'>MATERIAL CONTRACTS</div>

Our material contracts are described in the documents
incorporated by reference into this prospectus. See “Incorporation of Documents by Reference” below.

<div align='center'>MATERIAL CHANGES</div>

Except as otherwise described in our most
recent annual report on Form 20-F, in our Reports on Form 6-K furnished