Office 365 cannot be used as Remote Desktop Services(Terminal Services)
According to Microsoft Office 365 does not grant the right to use Office Pro Plus images on a server eliminating the possibility to use Remote Desktop Services.Contrary to the software licensed under desktop application licenses for Microsoft Office, Office Professional Plus for Office 365 may not be deployed on a server or desktop and accessed remotely from another desktop. Customers may only use Office Professional Plus for Office 365 locally. Remote Use Rights are not available under Office Professional Plus for Office 365 licenses. Examples of remote access technology used under desktop application licenses for Microsoft Office, but not supported for Office Professional Plus for Office 365 include Remote Desktop Services (RDS) and Virtual Desktop Infrastructure (VDI).
It is a common practice to create virtual devices for different purposes, and is a practice use more often today however seems to contradict the sale of the subscription license through Office 365 as the RDS is not allowed with the subscription.
See official document
- Office 2013 vs. Office 365 Pricing: What’s the Difference? (thevarguy.com)
- Office 365, a new way to get CALs (josefhanslara.wordpress.com)
- What Office 2013 pricing means to you (betanews.com)
- Can Office 365 convince you that renting software is a good deal? (zdnet.com)
- Microsoft Office 2013: A closer look (itproportal.com)