Are immigration policies in European countries converging? Or do some countries remain more open to immigrants than others? We address these questions through an analysis of labour migration policies in five European countries from 1990 to 2016. Using an original immigration policy index (ImPol) to measure policy restrictiveness we examine whether policies have converged, to what extent immigration regimes reflect distinct ‘varieties of capitalism’, and whether national policy trajectories are shaped by domestic politics. We find little evidence of convergence; mixed evidence that immigration policy regimes reflect capitalist diversity; and strong evidence that policies respond to changes in domestic political conditions. Whilst ‘varieties of capitalism’ may set the broad parameters for immigration regimes, the direction and timing of policy changes are determined by domestic political competition.