Multireference CI calculations predict fourteen states of BN2+ to be quasibound, an uncommonly large number for a first-row diatomic, confirming the important role played by the electropositive B atom in stabilizing molecular dications. About two-thirds of the metastable potentials have dissociation barriers (Deff) between 0.59 and 2.25 eV, accommodating several vibrational levels and therefore being kinetically stable. The ground state X 3Σ−, however, might be difficult to study experimentally because it is only weakly bound (Deff=0.23 eV), and its formation via ionization of BN or BN+ has unfavorable Franck–Condon factors (FCF). The 1 5Σ− state is the best candidate for detecting BN2+: Its barrier is the highest (Deff=2.25 eV), sustaining about 30 vibrational levels (with tunneling lifetimes τTυ≊∞ for υ<20), and the ionization FCFs are favorable. The 1 1Δ state might also be detectable since its properties are similar to those of 1 5Σ−. Near equilibrium, most metastable states are described by the configurations 3σ24σ5σ1π2 and 3σ24σ1π3, both having charge distributions B2+N. The adiabatic ionization potential into BN2+ (X 3Σ−) is 21.4 eV for ionization from BN+ (X 4Σ−) and 32.9 eV from BN(X 3Π). The corresponding IPs into 1 5Σ− lie 1.12 eV higher.