This paper seeks to demonstrate the major benefits that a dedicated policy of co-development can bring to three major actors affected by immigration: receiving states, countries of origin, and the immigrants themselves. True co-development involves sustained cooperation between receiving nations and source nations in the management of both legal and illegal migratory flows. At the same time, it fosters the economic and demographic development of both the sending and the receiving country. The various problems faced by these three main actors regarding migration as they seek to pursue activities in their best interest is considered, followed by the advantages that a policy of co-development has for these actors: for receiving nations in terms of meeting labour force needs, reducing demographic problems, and controlling illegal immigration; and for source countries in terms of increased access to visas, increased amounts and efficacy of remittances, and the return and re-circulation of skilled and seasonal workers, and retirees. The interests of the immigrants themselves will be considered at various points throughout the discussion, in the context of the effects that the various policies of receiving and sending countries will have on them.