Reaction of the phosphenium complexes Cp(OC)2W=P(tBu)(R) [R = tBu (2a), Ph (2b)] with ethyl isothiocyanate (3) leads to the formation of the phosphametallacycles Cp(OC)2W–P(tBu)(R)–C(=NEt)–S(W–S) (4a, b) by [2 + 2] cycloaddition. In contrast, the “in situ” reaction of 2a, b, generated from Cp(OC)2[H(tBu)(R)P]W–Cl (1a, b) with DBU in the presence of 3 leads to the spirocyclic phosphorus metal compounds {Cp(OC)2W–P(tBu)(R)–N(Et)–Ca[N(Et)–(CH)–N(Et)CbH2]–S(W–S)(Ca–Cb)}Cl (6a, b). The structure of 6a has been proved by X‐ray analysis.