XMPP Installation and requirements

[mydearho]

Hello I am new to the forum, I wasn't able to find a specific reply to my question and that is why I am posting a new topic. We use Adium at the office. I want to make a jabber XMPP chat for our office needs. I read somewhere that it can not be hosted on shared hosting, is that true? If I am unable to make this on a shared host, I guess a VPS should be fine however is there a minimum server requirement? We are using the first VPS plan from here https://www.webhostface.com/vps-hosting.
Thanks in advance!