Aiming at intramolecular frustrated Lewis pairs (FLPs) based on soft Lewis acidic bismuth centers, a phosphine function was combined with a dichloridobismuthane unit on a phenylene backbone utilizing a scrambling approach. The reaction between two equivalents of BiCl3 and (o‐(Ph2P)C6H4)3Bi yielded (o‐(Ph2P)C6H4)BiCl2(THF), the structure of which indicated Bi…P interactions and thus a pronounced Lewis acidity at the bismuth center that was confirmed by the Gutmann‐Beckett method. However, the system turned out to be insufficient to be utilized for FLP reactivity. Hence, the chloride ligands were exchanged by iodide and C2F5 substituents, respectively. Despite a lower electronegativity the iodide compound exhibits a shorter Bi…P contact, while the C2F5 substituents led to a further decrease of the Lewis acidity, despite their high group electronegativity. DFT calculations rationalized this by a quenching of the Lewis acidity inherent to the σ*(Bi―C) orbital by negative hyperconjugation from occupied p‐orbitals at the F atoms. Furthermore, it turned out that the strength of the covalent Bi‐X σ‐bond is a more important factor than the charge at Bi in determining the energetic accessibility and thus Lewis acidity of the antibonding σ*(Bi―C) orbital.