Azure SQL Database Managed Instance enables you to create a database as a copy of another database at some point in time in the past. This is known as point-in-time restore feature, and up till now you could perform point-in-time restore only within the same instance.
The latest release of Azure SQL Database Managed Instance enables you to perform point-in-time restore of a database from one instance to another. This might be useful if you need to be sure that you could easily restore a database to another instance if there is some issue on the original instance, or if you need a database for testing or auditing purposes on the test instance and you want to use copy of some of the existing database on another server.
Click through for the current requirements and limitations, as well as a sample.