Getting straight to the point, is this even possible?
I have successfully copied an Azure SQL database within the same subscription. In doing so, I kept it simple by copying the database to the same server (within the subscription). I used the Powershell commands Add-AzureRmAccount and New-AzureRmSqlDatabaseCopy.
I have tried executing the Add-AzureRmAccount twice (once for each subscription) but this seems to replace the first subscription with the second in the context as the New-AzureRmSqlDatabaseCopy command reports that it cannot find the specified resource group (which exists in the source subscription).
All that said, if this is something that is possible, what are the steps / commands that I need to execute?