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| Tan Jee Say |
The 57-year-old resigned from the Singapore Democratic Party on Thursday evening.
Mr Tan collected forms for the Certificate of Eligibility from the Elections Department on Friday morning.
He said that he has been thinking of running for president for the past several weeks but only decided to do so last night.
Mr Tan said he decided to contest because many Singaporeans want a non-People's Action Party (PAP) President whose independence of the PAP is clear, obvious and cannot be in doubt.
But he added that it is not his intention to oppose every Government policy.
He said only such a person can have the moral authority to fulfil the mission of Elected President which is to provide checks and balances on the PAP government.
He said he is aware of the constitutional limitations of the office of President, but added that the office of President is what the President makes it out to be.
"He can be as quiet and inactive as he chooses to be. Or he can be active. I want to be an active President, engaging the nation on issues of conscience and promoting worthy causes."
As for fulfilling the eligibility criteria, Mr Tan said he was chief executive officer with the title of regional managing director of John Govett (Asia) and its successor company AIB Govett (Asia) from February 1, 1997 to March 6, 2001.
The company was a Singapore company incorporated under the Companies Act. The asset management company operated under an Investment Adviser's licence granted by the Monetary Authority of Singapore (MAS).
Mr Tan said the company did not have a paid-up capital of S$100 million, as it was not required to do so by the MAS.
However, the firm managed total assets in excess of S$100 million which would make it equivalent to managing a company with a paid-up capital of S$100 million, he added.
In managing the country's reserves, Mr Tan said that if elected, he would be prepared to use the second key if more money is needed to invest in Singaporeans.
Former PAP MP Dr Tan Cheng Bock said he will submit his Certificate of Eligibility application next week with friends and supporters.
He said this on his Facebook page on Friday.
When asked about Mr Tan Jee Say's intention to contest, former Deputy Prime Minister Dr Tony Tan said that it's good for Singapore to have a choice.
He was speaking at an event organised by the Singapore Chinese Chamber of Commerce and Industry Friday.
Dr Tan stressed what is important is that the President must act independently.
He added that if the President wants to do anything effectively, he must have the respect of the government or Ministers.
Another presidential hopeful, Mr Tan Kin Lian, also commented on Mr Tan Jee Say's move.
In a statement, the former NTUC Income chief said that with more candidates entering the contest, voters will have a wider choice of selecting the next President.
