1. A system for providing secure execution of an application comprising: at least one processor and a memory; and the memory storing computer code that, when executed: creates by a host operating system (“OS”) an emulator enclave for emulation of a virtual machine (“VM”), wherein the emulator enclave provides a hardware-enforced protected region of an address space of the memory, wherein the emulator enclave is protected from the host OS, and wherein the VM includes quest memory with the emulator enclave being further provided for securely paging the guest memory to an untrusted region of the memory; under control of the emulator enclave, emulates execution of instructions of a guest OS of the VM; and emulates execution of instructions of a guest application for creating a guest enclave for execution of protected code of the guest application wherein the protected code executing in the secure enclave is protected from the guest OS.