Company: TOP
Filing Date: 2025-03-14
Form Type: CORRESP
Source: 0001213900-25-024161
Chunk: 3

Company: TOP Financial Group Ltd
Filing Date: 2025-03-14
Form: CORRESP
Chunk 3
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9 of the Form
F-3/A.

| 8. | In your next post-effective amendment, please include a summary of your enforcement of civil liabilities 
 disclosure within the Prospectus Summary.                                                                |

Response: We note the Staff’s comment,
and in response hereto, respectfully advise the Staff that we have added a section titled “Enforceability of Civil
Liabilities” beginning on page 10 of the Form F-3/A.

| ● | Under                                                                                                                               
 “Permission Required from the Hong Kong Authorities” you disclose at page 6 that “[n]either we nor any of our subsidiaries          
 are required to obtain any permission or approval from Hong Kong authorities to offer the securities of TFGL to foreign investors.” |

| ● | Under                                                                                                                                  
 “Recent Regulatory Development in the PRC” you disclose at page 7 that “[i]n connection with our issuance of securities                
 to foreign investors, under current PRC laws, regulations and regulatory rules...we do not believe we are currently required to obtain 
 permissions from or complete any filing with the CSRC, or required to go through cybersecurity review by the CAC....”                  |

Please disclose how you reached your conclusions, including whether you are relying on the opinion of counsel. If you relied on advice of counsel, you should identify counsel and file the consent of counsel as an exhibit to the registration statement. If you did not consult counsel, you should explain why. Please include any revised disclosure directly within the Prospectus Summary 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 disclose that we have based our conclusion regarding permission or approval from the Hong Kong
authorities under Hong Kong law on advise by our Hong Kong counsel, Stevenson, Wong & Co., and our conclusion
regarding permission or approval from the PRC authorities under PRC law on advise by our PRC counsel Guangdong Wesley Law Firm on page
6 and 7 of the Form F-3/A we have revised to
identify counsel and file the consent of counsel as an exhibit to the F-3/A.

| ● | “We                                                                                                                    
 may become subject to a variety of PRC laws and other obligations regarding data security offerings...” (page 12); and |

| ● | “The                                                                                              
 enforcement of foreign civil liabilities in the Cayman Islands and Hong Kong...” (pages 13 – 14). |

Please address the substance of our preceding comment above