Abstract: An optically variable element, in particular an optically variable safeguard element for safeguarding banknotes, credit cards and the like, and a security product and a foil, in particular an embossing foil or a laminating foil, having such an optically variable element. The optically variable element has a thin film for producing color shifts by means of an interference and/or a reflective layer. The optically variable element further has a transparent window and the thin film and/or the reflective layer is respectively in the form of a partial element, namely a partial thin film element or a partial reflective element, wherein the partial element or elements surround the surface region of the transparent window.