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As of yet, III–V p-type field-effect transistors (p-FETs) on Si have not been reported, due partly to materials and processing challenges, presenting an important bottleneck in the development of complementary III–V electronics. Here, we report the first high-mobility III–V p-FET on Si, enabled by the epitaxial layer transfer of InGaSb heterostructures with nanoscale thicknesses. Importantly, the use of ultrathin (thickness, ∼2.5 nm) InAs cladding layers results in drastic performance enhancements arising from (i) surface passivation of the InGaSb channel, (ii) mobility enhancement due to the confinement of holes in InGaSb, and (iii) low-resistance, dopant-free contacts due to the type III band alignment of the heterojunction. The fabricated p-FETs display a peak effective mobility of ∼820 cm2/(V s) for holes with a subthreshold swing of ∼130 mV/decade. The results present an important advance in the field of III–V electronics.