Jira Cloud customers are not buying a perpetual software license, they pay an ongoing subscription that includes:
When your subscription ends Atlassian will not (and should not) keep your data indefinitely.
This post is a couple of years old, but provides more detail: Contract Termination & Data Deletion.
You will have Read Only access, however if you don't renew the license you will lose access after a certain time
Best,
Fadoua
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