Following the concept of spin-injection into a semiconductor-based device, a ferromagnetic element (like a GMR multilayer structure) can be used as a spin filter. A high spin-polarization of the electrons can be realized by the preparation of a monocrystalline multilayer structure consisting of ultrathin films of a high magnetic polarization. In the case of ultrathin films, the manipulation of the easy-axis of magnetization is possible, by changing the anisotropy terms contributing to the effective anisotropy of the structure. We report on the structural and magnetic properties of Ni/Fe and Fe/Ni bilayers epitaxially grown on GaAs(0 0 1). By a proper choice of Fe and Ni sequences (Fe/Ni/GaAs) and their thickness (up to 3 ML of Fe on the top of Ni), the rotation of magnetization from the in-plane to the out-of-plane direction was achieved.