Transient diphosphinocarbocations IIP are generated either by addition of phosphenium salts to the stable [bis(diisopropylamino)phosphino](silyl)carbene or by chloride abstraction from C-phosphino-P-chloro phosphorus ylides. In contrast to their nitrogen anlogues (amidinium salts) IIN, which feature a planar 3-center-4p-electron system, calculations show that IIP should exist as IIPb, in which one phosphorus is planar, while the other remains pyramidal. With small substituents at phosphorus, derivatives of type IIP rearrange by a 1,3-shift of a phosphorus substituent to the other phosphorus center to give C-phosphoniophosphaalkenes. When bulky substituents are present at phosphorus, derivatives IIP undergo ring closure, giving rise to the corresponding cyclic valence isomers IIIP, in which the carbon atom bears a negative charge. Diphosphinocarbocations IIP can be trapped by acetonitrile giving regioselectively the corresponding [2+3] cycloadduct.