Office 365 - Is it installed locally on a PC

I've been trying to find some information about office 365 on Microsoft sites but there are a couple of points I'm not clear about.

Are the programs actually installed locally the way a 'classical' office installation would?  In particular in VBA I will have a code snippet like
xxx = CreateObject("excel.application")

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- would that create problems ?

Also
Is storage and access of files and templates still possible on a local hard disk / network server ?
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AndyAinscowFreelance programmer / ConsultantAsked:
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Manoj BojewarConnect With a Mentor Commented:
Yes, you can use for local and network storage. There is no much difference between local office installed and office365 cloud office setup. Except office 365 office require internet connection for license verification.
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AndyAinscowFreelance programmer / ConsultantAuthor Commented:
Thanks.
So files/templates should be OK.
What about the first bit - code with things like: CreateObject("excel.application") ?

ps. With the automation there are also settings like this (VBA references) for the automation support:
Code references
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AndyAinscowFreelance programmer / ConsultantAuthor Commented:
>>Except office 365 office require internet connection for license verification.
Do you mean you must have an internet connection to use office 365 or is it a one off.  (The classical office versions require an internet connection for a one off verification).
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David Johnson, CD, MVPOwnerCommented:
Every 30 days it checks to ensure that your subscription is still active.
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AndyAinscowFreelance programmer / ConsultantAuthor Commented:
>>Every 30 days it checks to ensure that your subscription is still active.
OK, that makes sense.

Would you happen to know about the code - CreateObject - part of the question?
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David Johnson, CD, MVPOwnerCommented:
why wouldn't it work.. Excel is excel .. vba is vba..
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AndyAinscowFreelance programmer / ConsultantAuthor Commented:
>>why wouldn't it work.. Excel is excel .. vba is vba..

I'm asking because I have no experience of just what the office 365 installation installs locally and what it gets from the internet.  I hope it will work without problems as it did before - but I don't want to go on site and find it doesn't.  It is embarrassing and wastes my and other peoples time.
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David Johnson, CD, MVPConnect With a Mentor OwnerCommented:
It is the same office applications that you are used to just the 2013 version
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AndyAinscowFreelance programmer / ConsultantAuthor Commented:
Thanks
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