A magnetic material combining low losses and large perpendicular magnetic anisotropy (PMA) is still a missing brick in the magnonic and spintronic fields. We report here on the growth of ultrathin Bismuth doped Y3Fe5O12 (BiYIG) films on Gd3Ga5O12 (GGG) and substituted GGG (sGGG) (111) oriented substrates. A fine tuning of the PMA is obtained using both epitaxial strain and growth-induced anisotropies. Both spontaneously in-plane and out-of-plane magnetized thin films can be elaborated. Ferromagnetic Resonance (FMR) measurements demonstrate the high-dynamic quality of these BiYIG ultrathin films; PMA films with Gilbert damping values as low as 3 × 10-4 and FMR linewidth of 0.3 mT at 8 GHz are achieved even for films that do not exceed 30 nm in thickness. Moreover, we measure inverse spin hall effect (ISHE) on Pt/BiYIG stacks showing that the magnetic insulator's surface is transparent to spin current, making it appealing for spintronic applications.