Actually you would need to export your mgmt database with the migrate command.
Upload your mgmt db to Check Point and they will import your db into Smart1-Cloud.
You now need to link your on-premise and cloud iaas gateways to the new mgmt server vian MaaS service which is basically a tunnel.
Establish SIC and boom you are up and running.
From that time one you don't need your on-premise gw mgmt server running any longer. it is now in the cloud 24/7.
Check Point are backing up and taking care of your mgmt server.