The way I see things now, it might not fix migration, but sovreignty and law making would be fully in our own hands, is to rejoin the EFTA and go down that route. We might need to pay a similar or slightly smaller amount than we already do into the eu, but we would be exempt from many areas of eu legislation. Companies trading would still need to comply with eu standards but it leaves the other 94% of uk business free from the same legislation.
One caveat is that freedom of movement might need to stay for a while, but joint with the other EFTA members, we could negotiate limit on migration as a block.
Some reading that talks on the subject. It would also mean gaining back our fishing waters as EFTA states are not subject to the common fisheries policy. Nor would we be subject to the current legislation covering local business.
http://www.eu-facts.org.uk/2016/04/...ould-be-better-for-the-uk-than-eu-membership/