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For the price of 40 GOLD, you can create your own party and try to convince others to support and join it. As party leader, You can select your party name, logo, initials, orientation and provide a short description of its mission.
In order to participate in the presidential elections, you have to be one of the top 5 parties in your country in terms of members. Even if you can't be elected to the position of president, you still have a good chance to become and/or appoint Congressmen. The elected President will need Congressional majority to ensure that idealistic laws are passed.
As a Party President, if you decide to resign, you won't be the leader of your party any longer, but you'll still be a party member.
In order to end your political activity, you also need to resign your position as a party member.