Cloud won't solve your problems. Just buy a new server and migrate.
Cloud is:
Expensive
Time shared
High latency
Slower than on-premises
Harder to manage
Open to additional security vulnerabilities
Requires a VPN to host a DB off-premises
Is really only a benefit if you want to virtualize a whole data-center's worth of equipment for a website or other large application.
Cloud only makes sense in a limited set of circumstances that mostly require very high uptime, flexible capacity and paying for usage-based service (which can get very expensive per month on a DB-sized instance running hot).
Good luck
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