Yes, there are two different major service intervals that can be done by the dealer$hip at a significant cost. If I remember correctly, it might have been $300-$400 US for the 2nd inspection, I'm not entirely positive but I know it was a high price. The 1st inspection is significantly cheaper, but they definitely don’t check as many things (no need to at that low mileage).
If your talking about those green and red "inspection" and "oil service" bars on the instrument cluster, No. you do not have to have a dealer reset those. You can either buy a tool, or use a coat hanger or paperclip method where you short a specific pin on the communications port and turn the ignition on for a specified amount of time. Totally free and works 100%. (I did it myself, and this method is the SAME thing that the 70-100$ tool does)
I'll dig up the tutorials on how to do that in a little while. It takes less than 2-3 minutes to open the hood, figure it out, and be completed with the entire process.
You should go to the dealer or a good mechanic to reset the check engine light though.
If you don’t want to pay for the expensive inspection like I didn't want to, just take a look at the common E36 failures list somewhere in this forum, I'll dig up a link in a while, once again. Off the top of my head: rear shock mounts, RTABs (rear trailing arm bushing), and the LCA's (lower control arm bushings).
Bushings should be replaced with M3 parts, rear shock mounts would be best to replace with E46 convertible mounts (beefier than stock E36 and essentially same part). Each part should be under about 35$, and you need one for each side. (6 parts total) I did my front bushings and it's a WORLD better. Waiting for time to replace my RTABs and shock mounts.
EDIT: reset oil service lights
This guy used a coaxial cable, you can use a paperclip or coathanger... anything works. You can ground the other end of the cable anywhere on the body of the car that's bare metal. I used the shock tower bolts. things checked in inspection I and II Very good E36 DIY link library website. Common E36 problems