Company: TOP
Filing Date: 2025-03-14
Form Type: CORRESP
Source: 0001213900-25-024161
Chunk: 4

Company: TOP Financial Group Ltd
Filing Date: 2025-03-14
Form: CORRESP
Chunk 4
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 with respect to these risk factors, and include any revised disclosure directly within the Risk Factors section of your next post-effective amendment filing.

Response: We note the Staff’s comment,
and in response hereto, respectfully advise the Staff that we have revised to identify counsel and file the consent of counsel as an
exhibit to the F-3/A we have revised to include the required disclosure on page 13 and 14 of the Form F-3/A.

| 11. | We note your disclosure that five of your seven directors and officers are nationals and/or residents                                    
 of countries other than the United States. Please revise to clarify whether any of such individuals are located in Hong Kong or the PRC. 
 If so, please identify the relevant individuals and discuss, both here and in a related risk factor, the difficulty of bringing actions  
 against them and enforcing judgments against them.                                                                                       |

Response: We note the Staff’s comment,
and in response hereto, respectfully advise the Staff that Anthony S. Chan and Mei Cai, are nationals and/or residents of the United
States, and Junli Yang, Mau Chung Ng, Ka Fai Yuen, Yung Yung Lo, and Jennifer Hoi Ling Tam, are nationals and/or residents of Hong
Kong five of your seven directors and officers are nationals and/or residents of Hong Kong. In addition, we’ve revised to
disclose that the difficulty of bringing actions against them and enforcing judgments against them We have revised to include the
required disclosure on page 10, 13 and 35 of the Form F-3/A.

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| 12. | We note the following revisions in the section titled “Enforceability of Civil Liabilities”                                              
 on page 27 of your post-effective amendment filing as compared to your disclosure in the same section in your IPO registration statement 
 on Form F-1 (333-259441), which was declared effective on May 31, 2022:                                                                  |

| ● | You                                                                                                                                      
 removed your disclosure that “there is uncertainty as to whether the courts of the Cayman Islands would (1) recognize or enforce         
 judgments of U.S. courts obtained against us or our directors or officers that are predicated upon the civil liability provisions of     
 the federal securities laws of the United States or the securities laws of any state in the United States, or (2) entertain original     
 actions brought in the Cayman Islands against us or our directors or officers that are predicated