Company: TOP
Filing Date: 2025-03-14
Form Type: POS AM
Source: 0001213900-25-024160
Chunk: 75

Company: TOP Financial Group Ltd
Filing Date: 2025-03-14
Form: POS AM
Chunk 75
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 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 under the Exchange Act and incorporated by reference herein and
as disclosed in this prospectus, no reportable material changes have occurred since September 30, 2024.

<div align='center'>33

LEGAL MATTERS</div>

We are being represented by Ortoli Rosenstadt
LLP with respect to certain legal matters as to United States federal securities and New York State law. The legality and validity
of the securities offered from time to time under this prospectus under the laws of the Cayman Islands was passed upon by Harney Westwood