The Association "International Black Sea Club" is established and is acting as legal non-for-profit person in public favour according to the "Law for legal persons with non-for-profit purpose", published in State Gazette No81/2000, in power since 01.01.2001, as regional, nongovernmental and non-commercial organization, supporting the development and the strengthening of the business cooperation in the Black Sea Region.

Members of the Club can be Bulgarian and foreign legal and physical persons, who accept the Statute, are ready to assist for reaching its objectives, paid the entrance and the annual membership fees. The Club itself can become a member of organizations with similar purposes in the country and abroad.

In its activities, the Club is led by the Declaration for Black Sea Economic Cooperation, signed in Istanbul on the 25th of June 1992; by the Protocol of understanding for the establishment of IBSC, signed by the representatives of cities-participants in the Summit in the city of Varna 22-24.07.1992; by the legislation of the states, whose organizations are members of the Club; by IBSC Statute, IBSC Internal Regulations and by the decisions of the General Assembly of IBSC.