In this review, the scope and limitations of BH 3 -protected trivalent organophosphorus compounds (phosphines, aminophosphines, phosphinites, etc.) as intermediates for the synthesis of chiral phosphines are discussed, representing a class of unique ligands for homogeneous asymmetric catalysis. Several applications of P-boranes are surveyed ranging from simple use as air-stable derivatives involved in facile purification procedures to versatile synthetic intermediates for highly stereoselective P-C and C-C coupling reactions. Relevant properties of P-boranes including the cleavage of the P-B bond are considered as well. Finally, several new pathways for the synthesis of chiral phosphine ligands are detailed. In selected examples, the efficiency of new ligands in asymmetric catalysis is briefly discussed.