Dear @Ajda Bertok,
Thank you for posting your question in the Microsoft Q&A forum.
I understand your concerns. Enabling “Anyone with the link” at the tenant (organization) level can feel risky when you only want a few folders to be externally accessible while keeping your internal data protected.
SharePoint uses a two‑tier permission model:
- Organization (tenant) level sets the maximum type of sharing allowed across all sites.
- Site level can only be more restrictive than the organization's setting, not more permissive.
If the tenant-level setting is configured to “New and existing guests only,” the “Anyone with the link” option becomes unavailable everywhere, including for a single folder or library you want to expose. This is why it feels like the entire environment must be opened, even though your intention is to share only specific content.
To avoid exposing internal content, you can consider the following workarounds:
Please note that Options 1, 2, and 3 require administrator privileges to complete.
Option 1: Create a separate SharePoint site dedicated to external sharing
This is often the simplest and most secure approach. By creating a new SharePoint site (for example: “External Files”), you can store only the documents intended for external access, while keeping all existing sites fully internal and locked down.
Option 2: Tighten access to internal content manually
If there are particularly sensitive libraries or folders, you can remove external access entirely by adjusting permissions through Advanced permissions settings on each site. This ensures external users cannot see or open internal materials.
Open the SharePoint site where the sensitive content is stored.
Go to the document library or folder you want to secure.
Click Shared > Manage access.
Choose Advanced settings.

Remove the external group (“Your site name Visitors”).

This approach ensures external users cannot view, open or access internal material.
Option 3: If you prefer not to enable “Anyone” at the organization level
If enabling “Anyone” links isn't preferred, you can use “Specific people" links, which verify identity via a one‑time passcode, prevent link forwarding and avoid creating guest accounts unless required.
In SharePoint or OneDrive, select a file or folder.
Click Shared.
Select Link settings and choose “People you choose” (Specific people).

Enter the email addresses of your external recipients.
Set permissions:
Can view or can edit, depending on what you need.
Send the link. Recipients will verify their identity before accessing.
This method keeps your organization very secure while still enabling controlled collaboration.
Additional information is available in the following resource:
Overview of external sharing in SharePoint and OneDrive in Microsoft 365 - SharePoint in Microsoft …
Best practices for unauthenticated sharing | Microsoft Learn
Manage sharing settings for SharePoint and OneDrive in Microsoft 365 - SharePoint in Microsoft 365 …
External or guest sharing in OneDrive, SharePoint, and Lists - Microsoft Support
You can check out this link for additional workaround options regarding external sharing:
SharePoint Online External Sharing Best Practices | SharePoint Maven
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