The Yacht Club Costa Smeralda was founded on 12th May 1967 by H.H. the Aga Khan, Andrè Ardoin, Giuseppe Kerry Mentasti and Luigi Vietti as a non-profit making sporting association for fellow sailing enthusiasts and with a view to promoting related activities.

The Club's present flag was adopted in 1975. It consists of a red four-pointed diamond with concave sides edged in white on a blue background. The sporting events organized by the Club and the victories won by Members flying the Club’s burgee have helped to establish the YCCS’ position at the forefront of international yachting. Today the YCCS enjoys a fully reciprocal twinning agreement with the Yacht Club di Monaco and, since July 2002, with the New York Yacht Club. The YCCS is represented by the Board of Directors headed by its President, Princess Zahra Aga Khan, and by the Vice President, Roberto Kerkoc. The Commodore, Secretary General and Sports Director also manage the Club’s social and sporting activities.