This work investigates p+n−n GaN-on-Si vertical structures, through dedicated measurements and TCAD simulations, with the ultimate goal of identifying possible strategies for leakage and breakdown optimization. First, the dominant leakage processes were identified through temperature-dependent current–voltage characterization. Second, the breakdown voltage of the diodes was modelled through TCAD simulations based on the incomplete ionization of Mg in the p+ GaN layer. Finally, the developed simulation model was utilized to estimate the impact of varying the p-doping concentration on the design of breakdown voltage; while high p-doped structures are limited by the critical electric field at the interface, low p-doping designs need to contend with possible depletion of the entire p-GaN region and the consequent punch-through. A trade-off on the value of p-doping therefore exists to optimize the breakdown.