Few layer bismuth nanofilms with (111) orientation have shown striking electronic properties, especially as building blocks of novel two-dimensional heterostructures. In this paper we present state-of-the-art first principles calculations, based on both density functional theory and maximally localized Wannier functions, that encompass electronic and structural properties of free-standing Bi(111) nanofilms. We accurately evaluate both the in-plane lattice constant and, by including the van der Waals interaction between bismuth bilayers, the intra/interlayer distances. Interestingly and somehow unexpectedly, the in-plane lattice constant is predicted to shrink by about 5% going from the thickest investigated nanofilm $(\ensuremath{\sim}80\phantom{\rule{0.16em}{0ex}}\AA{})$ to single bilayer Bi(111), entailing a thickness dependent lattice mismatch in complex heterostructures involving ultrathin Bi(111). Moreover, quantum confinement effects, that would be expected to rule the electronic structure at this size range, compete with surface states that appear close to and across the Fermi level. The implication is that not only all but the thinnest films have a metallic band structure but also that such surface states might play a role in either the formation of interfaces with other materials or for sensing applications. Finally, the calculated electronic structure compares extremely well with ARPES measurements.
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