The potential to extend the emission wavelength of photonic devices further into the near- and mid-infrared via pseudomorphic growth on conventional GaAs substrates is appealing for a number of communications and sensing applications. We present a new class of GaAs-based quantum well (QW) heterostructure that exploits the unusual impact of Bi and N on the GaAs band structure to produce type-II QWs having long emission wavelengths with little or no net strain relative to GaAs, while also providing control over important laser loss processes. We theoretically and experimentally demonstrate the potential of GaAs1-xBix/GaNyAs1-y type-II QWs on GaAs and show that this approach offers optical emission and absorption at wavelengths up to ~3 µm utilising strain-balanced structures, a first for GaAs-based QWs. Experimental measurements on a prototype GaAs0.967Bi0.033/GaN0.062As0.938 structure, grown via metal-organic vapour phase epitaxy, indicate good structural quality and exhibit both photoluminescence and absorption at room temperature. The measured photoluminescence peak wavelength of 1.72 μm is in good agreement with theoretical calculations and is one of the longest emission wavelengths achieved on GaAs to date using a pseudomorphically grown heterostructure. These results demonstrate the significant potential of this new class of III-V heterostructure for long-wavelength applications.