The invention relates to a cosmetic composition in particular in the form of an emulsion for topical application to keratin materials, in particular the skin, comprising, in a physiologically acceptable medium: (i) at least one dispersion (pre-dispersion) of bismuth oxychloride (CI 77163) in an oily dispersant chosen from a) monoesters of formula R1COOR2 in which R1 represents a linear or branched hydrocarbon-based chain comprising from 4 to 40 carbon atoms, preferably from 4 to 30 carbon atoms, and preferentially from 7 to 20 carbon atoms, and R2 represents a branched hydrocarbon-based chain containing from 3 to 40 carbon atoms, preferably from 10 to 30 carbon atoms, and preferentially from 16 to 26 carbon atoms; b) oils whose solubility parameter at 25° C., δa, is greater than 6 (J/cm3)1/2, and mixtures thereof, and (ii) at least one oil chosen from hydrocarbon-based oils having a refractive index greater than 1.42 and a solubility parameter at 25° C., δa, greater than 1 (J/cm3)1/2, silicone oils, in particular phenyl silicone oils, and mixtures thereof. Applied to the skin, this composition imparts a luminous effect to the complexion.