"Today, I am here in the country, so I think I am free to deliberate further on the issue, to explore and go down and talk to people in the street," Shafiq said on Sunday.
The announcement came after his family claimed that they had no information of Shafiq's whereabouts and were considering legal action.
"There's a chance now to investigate more and see exactly what is needed ... to feel out if this is the logical choice," said Shafiq during the Sunday interview.
On Saturday, the United Arab Emirates deported the former Egyptian premier after he announced his intention to run in Egypt's upcoming presidential election against incumbent President Abdel Fattah el-Sisi.
Shafiq had been living in the UAE after he fled Egypt following his loss to Mohamed Morsi in the closely contested 2012 election.
After arriving in the UAE, Egypt put him on trial in absentia finding him guilty of corruption charges, but later acquitted him.
He served as prime minister for just over a month during the 2011 uprising that resulted in the ouster of long-time dictator Hosni Mubarak.
He is seen as the only challenger to Sisi with even a slight chance of winning a large number of votes in the upcoming elections.