You are correct it can be flown single pilot. The list of hoops you have to jump through is long. It isn't a easy deal. The FAA makes it very hard and it is a pain to keep current single pilot.
However the type certificate is for two pilots, but with a lot of work you can do it single pilot. There are provisions that allow for one person to fly it, not the same as a Piaggio.
I went through the above mess to fly a 550 single pilot and it wasn't worth the extra money or hassle, or the owner finally decided after a year. Told him that from the get go, but won't listen.
