The noise is coming from your VANOS system. What you can do is take it to your local BMW dealer and have a senior technician adjust the oil pressure settings in the VANOS control unit. This is tricky stuff so the dealers usually have one or two specially trained technicians who know how to adjust the VANOS system. The clicking is caused when the VANOS system doesn't boost initial oil pressure enough at cold start up thus the valves make noise momentarily. Totally "normal" but I would have it looked at if it happens consistently