President Alexander Stubb on Tuesday confirmed the so-called deportation law, which will come into effect on 22 July.
The legislation will now allow Finnish border authorities to refuse to accept asylum applications under certain circumstances.
"An act that derogates from the Constitution and that is vital for our national security has now been passed. I understand the tensions associated with the law," Stubb posted on Instagram.
The most significant change brought by the emergency powers law is that asylum seekers attempting to enter Finland can be prevented from entering or removed from the country. This means that Finnish border officials would no longer need to accept applications from everyone at the eastern border.
The new law will, however, not be implemented upon its enactment. As an emergency measure, the government and the president must together assess when the threshold for implementation is met.
Interior Minister Mari Rantanen (Finns) noted that activating the law requires a high threshold, and there is currently no situation where its application would be necessary.
Last week parliamentarians passed the controversial government bill by 167 votes to 31.
Due to the contentious nature of the legislative changes, the bill required a supermajority — the backing of five-sixths of the MPs present in parliament at the time of the vote — to pass.
The government viewed the bill as necessary to tackle any potential use of 'hybrid influencing' by Russia, such as the funnelling of large groups of migrants to Finnish checkpoints on the eastern land border.