We report on the fabrication of high performance InP-based devices on an exact (001)Si-substrate. On an InP-on-Si quasi-substrate, the growth of superlattices and low-temperature InAlAs buffer for surface and device layer improvement is investigated. The selected device examples are an InGaAsP PIN diode and an (In)AlAs/In(Ga)As resonant tunnelling diodes. The functionality of these examples relies sensitively on sharp interfaces of ultra thin layers and a high optical quality of epitaxially grown III/V layers silicon substrates. A qualitative improvement is obtained for a low-temperature InAlAs buffer layer grown prior to the of device layers. Based on device models extracted from the fabricated devices a potentially low-cost optical receiver circuit on a Si-substrate is proposed and simulated using HSPICE up to 10 Gbit/s.