Security element as well as value document having such a security element

A security element for a security paper or value document comprising:

• a carrier comprising a motif region which provides a visually perceptible motif having a first and a second motif part,
• wherein the motif region comprises a first micro-optic representation arrangement which presents at least two different images in viewing angle-dependent fashion as a first motif part, and a second micro-optic representation arrangement which presents a reflective surface as the second motif part, said reflective surface imitating a bulge relative to the actual macroscopic spatial form of the second micro-optic representation arrangement,
• wherein the second micro-optic representation arrangement has embossed microscopic structures which are furnished with a reflection enhancing coating, and
• wherein the first micro-optic representation arrangement comprises microstructures and micro-imaging elements to image the microstructures in magnified form, the microstructures being provided both in a region of the first motif part and in a region of the second motif part.