Carl was born on October 9, 1849, as the eldest son to Johannes Im Obersteg (1809–1872), who was a physician, collector and aficionado of music and literature, and Margarita (née Hänseler).

He continued to study at the University of Zurich and the Université de Strasbourg but did not graduate and ultimately decided to start an apprenticeship instead with a London-based export company.

In 1885, he participated in the founding of the Swiss colony of Bernstadt, Kentucky and has been a partner and representative in South Eastern and Chatham Railway, which operated between London and south-east England and the insurance company L'Urbaine Incendie et Vie in Paris, France.

There were several joint-ventures with railway companies including investments and the foundation of the Aviation Society of Basel, which would later turn into the regional airline Balair.

[3][4] In 1874, Im Obersteg married the daughter of his former business partner Andreas Zwilchenbart (1786–1866), however this marriage was not happy, did not lead to any children and ended in divorce around 1878.